116 results for “disallowance”+ Section 160(1)clear
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Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh
1) of the Act would mean "actual expenditure incurred, held that no disallowance could be made under the said Section when no expenditure had 'actually' been incurred by the assessee in relation to the earning of the exempt income. Attention is also invited to the decision of the Hon'ble Punjab & Haryana High Court in the case