NETALKAR ENGINEERS vs. ASSISTANT COMMISSIONER OF INCOME TAX
The appeal stands allowed
ITA/5014/2012HC Karnataka30 Oct 2017
Bench: S.SUJATHA,H.B.PRABHAKARA SASTRY
Section 254Section 260ASection 40
disallowed the claim of interest made by the Assessee, as
not in conformity with the terms of the partnership
3
deed. Aggrieved by the said order, the appellant preferred
an appeal. During the course of appeal proceedings, the
appellant highlighted the fact that as per the product
method,
the
interest
on
capital
works
out
at
Rs.23
