Held that the Assessing Officer has wrongly assumed that Banker has waived the interest. The assessee has only shown as probable liability. Order of CIT(A) deleting the addition was affirmed.
Dy.CIT v. Hyderabad Educational Institutions (P) Ltd (2022) 218 TTJ 487 (Hyd)(Trib)
S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Waiver of interest-Estimate made-No proof for waiver of interest-Deletion of addition is affirmed.