M/S.POPULAR FINANCE,PATHANAMTHITTA vs. THE ACIT, CIRCLE-1, THIRUVALLA

In the result, the appeals of the Revenue are partly allowed for statistical purposes

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

iv) in the case of income of the nature referred to in clause (viii) of sub- section (2) of section 56. a deduction of a sum equal to fifty per cent of such income and no deduction shall, be allowed under any other clause of this section." [Emphasis Supplied] I.T.A. Nos. 202-204/Coch/2019 4.6.9. Therefore, under section 57, only

M/S POPULAR FINANCE COMPANY,PATHANAMTHITTA vs. THE ACIT,CIR-1,, THIRUVALLA

In the result, the appeals of the Revenue are partly allowed for statistical purposes