2002 (3) TMI 596 - AT - Income Tax

Summary

The Appellate Tribunal ITAT Chandigarh dismissed two appeals of the Revenue against orders of CIT(A) for assessment years 1991-92 and 1992-93. The Tribunal upheld CIT(A)'s decision to allow deductions under sections 35D and 43B even without positive income, as there is no such requirement in the Income-tax Act. The Revenue's appeals were dismissed.