GREENLAM INDUSTRIES LIMITED,TINSUKIA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-TINSUKIA, TINSUKIA
In the result, appeal filed by the assessee is allowed as per the terms indicated above
ITA 402/GTY/2019[2015-16]Status: DisposedITAT Guwahati19 Dec 2022AY 2015-16
Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad
Section 115JSection 143(2)Section 143(3)Section 244ASection 25Section 250Section 251(1)(a)Section 31(3)(a)
gains of business or profession”.
28. What needs to be examined whether the alleged expense has been expended wholly and exclusively for the purposes of business.
In the instant case, it is not in dispute that the leasehold lands taken by the assessee on lease are used for carrying out business operation and the lumpsum lease money was paid
