ITAT deletes addition made on accrual basis with respect to interest income of arbitration award [ Read Order]

By Aparna. M - On April 5, 2024 4:33 pm - 2 mins read
ITAT - ITAT Delhi - Income Tax - Arbitration award - Interest income - taxscan

The Delhi bench Income Tax Appellate Tribunal ( ITAT ) deleted the addition made on the accrual basis with respect to the interest income earned from the arbitration award. The Assessee MMTC Ltd is the merchant and also exporter of manufactured goods. Who entered into an agreement with M/s K.J. International ( KJI ) for…

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