Tribunal held that t since the Assessing Officer had not made any inquiry to justify the addition and no examination was conducted regarding the genuineness of the submission made by the assessee, the addition was based on mere guesswork and surmises, and the same was deleted.(AY. 2017-18)
Khandelwal Industries. v. ITO (2025) 215 ITD 667 (Raipur) (Trib.)
S. 36(1)(iii): Interest on borrowed capital-Addition was based on mere guesswork and surmises, and the same was deleted.
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