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In the result, the Cross Objection of the assessee is partly allowed
Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.
254 ITR 377 the hon'ble Delhi High Court has held that an allow ability and reasonableness of an expenses has to be looked from the angle of prudent businessman. This observation of the Delhi High Court has been approved by the hon'ble Supreme Court in the case of SA Builders v CIT 288 ITR 1 . Further