M/S. MEGHMALLAR EASTATE & SERVICES (P) LTD.,,GUWAHATI vs. INCOME TAX OFFICER, WARD-3(2), GUWAHATI

In the result, the three appeals of the assessee are partly allowed

Bench: Shri A. T. Varkey, Jm]

Section 57(iii) of the IT Act, 1961 and failed to set off the interest income / receipt against the interest expenditure payable to NEDFI. Hence, the impugned order-in-Appeal is not sustainable in law and is liable to be set aside in the ends of justice. 3. That the Ld. CIT(A), Guwahati-2, is not legally justified directing

M/S. MEGHMALLAR EASTATE & SERVICES (P) LTD.,,GUWAHATI vs. INCOME TAX OFFICER, WARD-3(2), GUWAHATI

In the result, the three appeals of the assessee are partly allowed

Bench: Shri A. T. Varkey, Jm]