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2010 (7) TMI 259 - PUNJAB AND HARYANA HIGH COURTDeductions under sections 37(3A) and 37(2) of the Act - Assessing Officer in not allowing expenditure on car insurance and car repairs falling under section 31 of the Act - disallowance under section 37(2) - Held that: - no longer in dispute that provisions of section 37(3A) of the Act as well as Section 37(2) of the Act have to be given effect to irrespective of any other provision dealing with the matters covered thereby. The said provisions override not only section 37(1) but also Section 31 which was invoked by the assessee before the CIT - disallowance under section 37(3A) of the IT Act, 1961 is correct - assessment of the quantum of expenditure attributable to disallowance under section 37(2) and the permissible expenditure - interest under Section 216 was chargeable and the Tribunal was not justified in directing otherwise - appeal stands decided accordingly
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