I.T.AS. NOS. 1719 TO 1721/KB OF 1984-85, DECIDED ON 20TH MARCH, 1989. versus I.T.AS. NOS. 1719 TO 1721/KB OF 1984-85, DECIDED ON 20TH MARCH, 1989.
Sections 55, 61, 62, 12 (7) and Schedule II, Item No. 99CCC declare its income only from poultry farm which has been exempted under section (99) of the Second Schedule of Ordinance Income Tax Officer. A notice under section 61 and 62 has been issued. For review and after detailed examination, it was found that certain loans were given by the assessee on which no interest was levied, even after the income tax officer was taxed on the deferred interest of Sec 12 (7). Whether the action was valid.
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