Is interest paid to be treated as undisclosed income when the date of PDCs are extended?

Last updated: 11 August 2021
Quick Summary
This Income Tax Appellate Tribunal case concerns whether interest earned on Post-Dated Cheques (PDCs) should be considered undisclosed income when the PDC dates are extended. The tribunal found that the assessment was void ab initio, meaning it was invalid from the start. Therefore, the appeal was allowed, and the tribunal did not need to consider the merits of the additions made.

Court :
ITAT Delhi

Brief :
This appeal by the assessee is preferred against the order of the CIT(A) - XXXIII, New Delhi dated 31.10.2014 pertaining to A.Y 2006-07.

Citation :
ITA No. 769/DEL/2015

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Poojitha Raam Vinay
Published in Income Tax
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