IND SWIFT LABORATORIES LTD.,CHANDIGARH vs. DCIT, CIRCLE 1(1), CHANDIGARH
In the result, the appeal is allowed, as indicated
ITA 350/CHANDI/2023[2017-18]Status: DisposedITAT Chandigarh04 Jun 2024AY 2017-18
Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)
For Appellant: Shri T.N.Singla, C.AFor Respondent: Shri Rohit Sharma, CIT-DR
Section 250Section 35Section 35(1)Section 35(1)(i)Section 35(2)
company paid interest on the borrowings. In this
appeal, judgement of M/s Abhishek Industries was considered.
The Hon'ble Supreme Court noted that Section 31(1)(iii) of the
Act provides that “the amount of the interest paid in respect of
capital borrowed for the purposes of the business
