DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH vs. ESSIX BIOSCIENCES LIMITED, CHANDIGARH
In the result, the appeal filed by the Department is
ITA 534/CHANDI/2023[2014-15]Status: DisposedITAT Chandigarh12 Apr 2024AY 2014-15
Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)
For Appellant: Shri Ved Jain, Advocate &For Respondent: Shri Rohit Sharma, CIT-DR
Section 14ASection 201Section 40
disallowance of
the expenditure can be made u/s 40(a)(ia) of the Act. For
holding so, the Bench followed the decision of the Mumbai
Bench of the Tribunal in the case of “Karwat Steel Traders Vs
ITO”, 145 ITD 370 (Mum)., wherein, it was held that the
amount cannot be allowed as deduction only in the event
when
