Forgot password
New User/ Regiser
⇒ Register to get Live Demo
1996 (1) TMI 46 - HC - Income Tax
Extract:
.......us by the Tribunal is in the affirmative and against the Revenue, the answer to question No. 2 is in the negative. The net effect however is that the Tribunal was right in holding that the payment of the amount of Rs. 99 lakhs by MICO to GEC was an allowable deduction under section 37 of the Income-tax Act. The reference is disposed of accordingly.