Forgot password
New User/ Regiser
⇒ Register to get Live Demo
1981 (7) TMI 46 - HC - Income Tax
Extract:
.......ing that the proportionate interest paid by the applicant on the amount utilised for payment of taxes out of the overdraft account is not an allowable deduction ? must be answered in the negative and in favour of the assessee. In the facts and circumstances of the case, the parties will pay and bear their own costs. SUDHINDRA MOHAN GUHA J.-I agree.