ITAT deletes addition made towards bogus Interest Expenditure based on Sworn Statements as well as Reconciliation Statements filed by Assessee duringĀ  Course of Assessment Proceedings [Read Order]

ITAT - addition - bogus - bogus Interest Expenditure - ITAT deletes addition made towards bogus Interest Expenditure based on Sworn Statements - taxscan

The Income Tax Appellate Tribunal (ITAT), ChennaiĀ  bench deleted the addition made towards the bogus interest expenditure based on sworn statements as well, as reconciliation statements filed by the assessee during the course of assessment proceedings. The assessee, Tulsian Refinery Pvt. Limited is a  resident corporate engaged in supply of edible oils. Following the search…

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