SAVLA AGENCIES,ALLAHABAD vs. JCIT, RANGE-I, , ALLAHABAD
In the result, the appeal of the assessee is partly allowed
ITA 28/ALLD/2022[2011-12]Status: DisposedITAT Allahabad06 Jan 2023AY 2011-12
Bench: Shri.Vijay Pal Raoassessment Year: 2011-12 Savla Agencies, V. Joint Commissioner Of Income Tax, 26, M.G. Marg, Civil Lines, Range-I, Allahabad Allahabad-211001 Pan-Aawfs0816J (Appellant) (Respondent) Appellant By: Mr. Tanmay Sadh, Adv Respondent By: Mr. A.K. Singh, Sr. Dr Date Of Hearing: 05.01.2023 Date Of Pronouncement: 06.01.2023 O R D E R
For Appellant: Mr. Tanmay Sadh, AdvFor Respondent: Mr. A.K. Singh, Sr. DR
Section 40
section 40(b)(iv) of the Income Tax Act. It further provides that such interests shall be calculated and credited to the account of the each partner at the close of the accounting year which means that the interest will be credited only at the end of the accounting year /
financial year and does not mean that the interest will
