Interest Deduction – smeaccountant

Conceptual image of tax deductions with alphabet blocks and percent symbol on black surface.

ITAT Mumbai Rules Interest Deduction Cannot Be Denied Solely Based on Book Entries

ITAT Mumbai holds that legitimate interest deductions cannot be rejected merely as book entries, directing the Assessing Officer to verify claims properly.

Prasenjit Bhowmik October 11, 2026

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ITAT Rules in Favor of Full Section 57 Interest Deduction Beyond Interest Income

Discover the recent ITAT ruling allowing full Section 57 interest deduction without income limits, provided a clear nexus with other-source income exists.

Prasenjit Bhowmik September 9, 2026

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ITAT Chennai Rules in Favor of Taxpayer on Section 36(1)(iii) Interest Disallowance

In a recent ruling that provides significant relief to corporate taxpayers, the Chennai bench of the Income Tax Appellate Tribunal (ITAT) has deleted an interest disallowance previously levied under Section…

Prasenjit Bhowmik August 5, 2026