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1986 (5) TMI 46 - AT - Income Tax
Extract:
....... upheld the disallowance. In Molins of India Ltd. v. CIT 1983 144 ITR 317 (Cal.), A. V. Thomas and Co. Ltd. v. CIT 1986 159 ITR 431 (Ker.) and Sundaram Industries Ltd. v. CIT 1986 26 Taxman 187 (Mad.), similar view has been taken. We, accordingly, uphold the orders of lower authorities on this point. 74. In the result, the appeal is partly allowed.