C.I.T., CENTRAL ZONE, LAHORE versus ITTEFAQ TEXTILE MILLS LTD., LAHORE
Income Tax Act 1922 SA (1), Explan 8 Assisi, started a textile mill in 1976 in 1977 and the interest of Rs 1,30,52,259 on account of over draft / loan received by the company estimating officer. Claimed the expenses of. A subsidiary company was paid Rs 33,79,391 on which no interest was charged. The Assessing Officer proceeded to reduce the claimed interest amount to Rs 5,40,050 from which the loan was made. Is the proportional amount of interest charged. Explanation of the principles of the Income-tax Act, 1922, due to the provisions of SA (1), his subsidiary made Rs 33,79,391 in 1971 and is compensated thereafter.
Find a Lawyer Near You
Dealing with a matter like this? Connect with a verified advocate in your city — free on SJP Lawyers Directory.
🔍 Find a Lawyer
how to become a advocate from Kamber Ali Khan lawyer
