Repayment of loan or overdraft can be consider as proof for claiming deduction
Last updated: 12 June 2012
Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
Facts in brief:– The assessee, a company, is engaged in the business of printing of newspapers and periodicals. It filed its return of income declaring total income at ` nil on 30th October 2007. The Assessing Officer passed an order under section 143(3) of the Income Tax Act, 1961 (for short “the Act”) on 29th December 2009. He made disallowance under section 40(a)(ia) and under section 43B of the Act
Citation :
M/s. Dangat Media P. Ltd. 1st Floor, Dangat Sadan 63, Modi Street, Fort Mumbai 400 001 PAN – AACCD2611F………….………. Appellant V/s Income Tax Officer Ward–1(1)(2), Mumbai..…….………. Respondent Assessee by: Mr. Vijay Mehta Revenue by: Mr. C.G.K. Nair
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CS Bijoy
Published in Income Tax
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