THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. M/S. APOLLO TYRES LTD
Appeal is allowed in part as indicated
ITA/44/2017HC Kerala22 Sept 2021
Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE VIJU ABRAHAM
For Appellant: M/S. APOLLO TYRES LTDFor Respondent: THE PRINCIPAL COMMISSIONER OF INCOME TAX
Section 143(3)Section 144CSection 144C(5)Section 35Section 43ASection 92C
disallowance of Rs.5,15,34,726/- on account of prepaid
expenses is legally justified in the facts and
circumstances of the case?
ITA No.44/2017
-49-
15. The assessee in the previous year ending 31.03.2010
claimed deduction of Rs.5,15,34,726/-. The said claim is claimed
towards prepaid expenses, insurance, interest, rent and general.
The said expenditure can be termed