Allahabad H.C : The Hon’ble ITAT has rightly confirmed the order of the CIT (A) and thereby deleting the disallowance of Rs.1,17,68,621/- made by the Assessing Officer under section 40 (a) (ia) of the I.T. Act, 1961 by ignoring the fact that the company M/s Mercator Lines Ltd. had performed ship management work on behalf of the assessee M/s Vector Shipping Services (P) Ltd. and there was a Memorandum of Understanding signed between both the companies and as per the definition of memorandum of understanding, it included contract also
High Court Of Allahabad CIT, Muzaffarnagar vs. Vector Shipping Services (P.) Ltd. Assessment Year : 2009-10 Section : 40(a)(ia), 192 […]
