M/S. SINGHAL ENTERPRISES PVT LTD.,KOLKATA vs. D.C.I.T., C.C. - 4(1), KOLKATA., KOLKATA
In the result, the both the appeals of the assessee ( in ITA No
ITA 1071/KOL/2018[2013-14]Status: DisposedITAT Kolkata26 Feb 2020AY 2013-14
Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.1071 & 1072/Kol/2018 ("नधा"रणवष" / Assessment Years:2013-14 &2014-15)
For Appellant: Shri A.K. Tulsiyan, CAFor Respondent: Shri Ram Bilash Meena, CIT
Section 143(3)Section 263Section 80I
capital of the business and accordingly interest on Bank O/D should be a business expenditure. Therefore, in the instant case interest on Bank O/D should have been adjusted with business income.Gross Total Income of the assessee company before allowing deduction u/s 80IA was assessed at Rs. 11,79,50,755/-.
Deduction u/s 80IA allowed to the assessee company
