In the result, the appeal filed by the assessee is partly allowed for statistical
Bench: Shri Sanjay Arora, Am & Ms. Kavitha Rajagopal, Jm P. Surendran Sukanya Bhavan Asst. Cit-1(2) Vadayakkadu, Kunnukuzhy, P.O., Thiruvananthapuram Vs. Thiruvananthapuram-695 035
section 40A(3) of the Income Tax Act applies only to those payments in respect of any expenditure debited to the Profit and Loss account and claimed as a deduction from income. 4. The Commissioner of Income Tax (Appeals) has erred in affirming the disallowance of car depreciation and interest on car loan made by the Assessing Officer on account