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Showing 61 to 63 of 63 Records
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1966 (8) TMI 3
Assessee had made contributions to the J Trust in respect of various amounts and claimed exemption - Board was not justified in holding that only 60 per cent of the amounts actually spent by the assessee for `charitable purposes` from the agricultural income was admissible as deduction under s. 2(2) of the Rules framed under the Assam Agrl. IT Act.
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1966 (8) TMI 2
Expenditure made by assessee to procure the use of money from the bank in the shape of an overdraft for the purpose of its business - expenditure wholly laid out for the purpose of its business - expenditure incurred by the assessee is an allowable item of deduction under s. 10(2)(xv)
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1966 (8) TMI 1
Amount debited by the assessee to the profit and loss account and credited to the sales tax account is an admissible deduction - assessee is entitled to a deduction during the year in which the liability became ascertained for him irrespective of the time at which the actual payment of the sales tax was made by the assessee
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