THE COMMISSIONER OF INCOME-TAX versus PAKISTAN INVESTMENT LTD.
Section 10 (1) Acceptable Allowance Business Lending Loan amount is a bad loan, even if an investment company that has estimated the cost is claiming that progression as a loan to a party in East Pakistan claiming that amount. The amount owed was admissible as a faulty loan because the assessee was busy. The Income Tax Appellate Tribunal on the Money Loan and Borrowing Business has recorded the evidence as evidence that the said amount was an acceptable expenditure, there was no legal point involved in the matter, since the loan became illegal on loan from 1969. Was the only acceptable item that was answered under section 10 of the Act with reference to costs.
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