COMMISSIONER OF INCOME-TAX versus INDIA CEMENTS LTD.
Indian Income Tax Act 1961 Troubleshooting The amount paid by a company to a managing agent under the Companies Act, which is deducted by the ITO for the year 1967, thereafter Under the ITO Passing Order does not allow the portion of the compensation as it was actually in a higher deduction, the jurisdiction authorized by the ITO was in accordance with the decision of the High Court when the order was approved by the ITO under section 154. At that time, there was no record of any wrongdoing in the records of the assessment year 1967 68 which led to the Indian Income Tax Act, 1961, Sections 37 and 1. 54 Indian companies could not be withdrawn in the process of amendment. Acts, 1956, Sections 348 and 349
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