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Bharat Commerce 7 Industries Ltd vs The Commissioner Of Income Tax, Central ... on 5 March, 1998
cites
The Voluntary Disclosure Of Income And Wealth Act, 1976
The Income Tax Act, 1961
Section 80V in The Income Tax Act, 1961 [Entire Act]
Section 215 in The Income Tax Act, 1961 [Entire Act]
Section 139 in The Income Tax Act, 1961 [Entire Act]
Section 6 in The Income Tax Act, 1961 [Entire Act]
Section 57 in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income-Tax vs Bakelite Hylam Ltd. on 25 April, 1995
The assessee has placed reliance on a decision of the
Andhra Pradesh High Court in the case of Commissioner of
Income-Tax V. Bakelite Hylam Ltd. ([1988] 171 ITR 583). In
the case before the Andhra Pradesh High Court the assessee
had taken certain amount from his overdraft account to pay
income tax. The interest payable on the amount so withdrawn
was held deductible under section 80V. This decision has no
application to the facts of the present case where the
assessee has not borrowed any moneys for payment of income
tax. Section 80V is not attracted in the present case.