Home Case Index All Cases Income Tax Income Tax + AAR Income Tax - 2009 (3) TMI AAR This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2009 (3) TMI 39 - AAR - Income TaxClaim for requisite deduction u/s 36(1)(viii) on the profits derived from the business of long-term finance for rural electrification - applicant has created Special Reserve out of the current year’s profit chargeable to tax for a specific purpose of availing allowance u/s 36(1)(viii), so assessee’s claim for deduction is acceptable – since assessee has made reserve for the bad and doubtful debts, deduction claimed u/s 36(1)(viia)(c)) cannot be denied mere for debit in the appropriation account
|