COMMISSIONER OF INCOME-TAX versus CARBORANDUM UNIVERSAL LTD.
The effect of introducing section 37 (5) of the Indian Income Tax Act 1961 business expenditure guesthouse law under the Finance Act 1983, with the former effect from 1 4 1979, with subsection (5) 1 4 1979 Not maintained before Flat Accounting Year 1973 relates to Year of Review 74 Determined by Tribunal that this Flat cannot be taken as a Guest House as it is primarily used for maintenance and depreciation of Assisi employees. The Indian Income Tax Act, 1961, Sections 32 and 37 occur.
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