PRINCIPAL COMMISSIONER OF INCOME TAX - 7 vs. M/S UNIVERSAL POWER TRANSFORMERS PVT LTD

The appeal stands dismissed accordingly

Bench: SATISH CHANDRA SHARMA,RAVI V HOSMANI

disallowance of the expenditure even where taxpayer in a particular year has not earned any exempt income? 2. Whether on the facts and circumstances of the case and in law, the Tribunal was right in law in dismissing the appeal of the Revenue, ignoring the fact that the interest bearing funds were utilised 3 for generating exempt income

K R SATYANARAYANA vs. THE COMMISSIONER OF INCOME TAX

In the result, the orders passed by the Commissioner of