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Income Tax Appeal is dismissed.Whether on the facts of the case and in law, ITAT was right in directing the A.O. to carry out verification and allow the claim of interest credited to “Interest Suspense Account” taxed in earlier years now written off during the year if found correct without clearly holding as to whether the interest is taxable in the year of credit of the suspense account or in the year of recovery?

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Section 36(1)(iv),(iva), (v) of the Income Tax Act, 1961 – Business Expenditure – Tribunal was justified in allowing deduction of expenditure incurred by the assessee towards contribution to the retired employees benefit scheme which was disallowed by the AO under section 40A(9) and that the instance of the assessee did not fall within clause (iv) or (iva) of (v) of section 36(1) – Principal Commissioner of Income Tax (2019) 420 ITR 376 (Bombay )

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