Sec. 36(1)(iii)

Sec. 36(1)(iii)

Allahabad H.C : the leaned ITAT was justified in deleting the dis allowance of equivalent of interest on borrowed capital to the debit balances existing in the name of Directors on the ground that no dis-allowance was made in the assessment year 19AFR91-92 & 1992-93 while placing reliance on its decision in the case of the assessee for the Assessment Years 1995-96 and 1996-97, ignoring the facts that the omission on the part of the Assessing Officer in particular years will alone not become ground for relief in a case where Assessing Officer has given concrete material to make the dis-allowance

High Court of Allahabad CIT vs. Sahu Enterprise (P) Ltd. Section 36(1)(iii) Asst. Year 1995-96 Devi Prasad Singh & Dr.

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