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1972 (12) TMI 19 - HC - Income TaxPayment of salary to a partner of managing agency firm who was appointed as manager – Legal Expenditures - deductibility - Whether income declared by the assessee can be enhanced on the basis of the excess stock disclosed the bank for obtaining overdraft facilities - Tribunal is justified in accepting the books as correct because the entries therein tallied with the returns submitted by the assessee to the Textile Commissioner and ignoring the stock declarations made by the assessee to the banks - result is that the questions are answered in the affirmative and in favour of the assessee
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