[aaykarbhavan] Reassessment set aside as AO had disallowed interest by treating it as capital exp. due to change of opinion

Reassessment set aside as AO had disallowed interest by treating it as capital exp. due to change of opinion

February 23, 2015[2015] 54 taxmann.com 70 (Bombay)/[2015] 370 ITR 154 (Bombay)

IT : Assessing Officer having allowed deduction in respect of assessee's claim for payment of interest, could not initiate reassessment proceedings merely on basis of change of opinion that interest expenditure in question was capital in nature

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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