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2016 (10) TMI 628 - ALLAHABAD HIGH COURT

2016 (10) TMI 628 - ALLAHABAD HIGH COURT - TMI - Allowability of amount of interest and financial charges under Section 36(i)(iii) - Whether on the facts and in the circumstances of the case, the Tribunal was justified in holding that amount of interest and financial charges is allowable under Section 36(i)(iii) of the Act ? - Held that:- Question is covered by judgment of Commissioner of Income Tax, Moradabad and another Vs. M/s Radico Khaitan Ltd., Bareilly Road, Rampur [2015 (9) TMI 1479 - AL .....

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rwal ORDER 1. This appeal under Section 260A of Income Tax Act, 1961 has arisen from the judgment and order dated 18.11.2015 passed by Income Tax Appellate Tribunal, Delhi Bench 'F', New Delhi (hereinafter referred to as the "Tribunal") in Income Tax Appeal No.2956/D/01, 2132/D/01 (Assessment Year 1996-97). 2. The appeal was admitted on following substantial questions of law: 1. Whether on the facts and in the circumstances of the case, the Tribunal was justified in holding tha .....

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her on the facts and in the circumstances of the case, the Tribunal was right in holding that that the expenses and depreciation on guest house was allowable under the provisions of Section 37(4) were not attracted ? 4. Whether on the facts and in the circumstances of the case the Tribunal was right in law in holding that deduction under section 80-I was allowable on gross total income without reducing the deduction under Section 80-HH of the Act ? 3. Learned counsel for parties stated that ques .....

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