RAJESH SINGHI,KOLKATA vs. D.C.I.T., CC - 4(1), KOLKATA

In the result, the appeal of assessee is allowed for statistical purposes

disallowances made by\nthe AO at the time of passing of assessment order_u/s 144/153D of the Income Tax Act, 1961\ndated 21.03.2016.\"\nOn perusal of the condonation petition, we condone the delay and admit the appeal for\nhearing.\n3.\nBrief facts of the case of the assessee are that the search and seizure operation\nu/s

M/S. INLAND TEEVRA PVT. LTD.,KOLKATA vs. PCIT, CENTRAL - 2, KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

disallowed the same. He observed that the aforesaid expenditure in the form of interest on late deposit of TDS was not an allowable expenditure u/s. 37 of the act as the same had not been incurred solely for the purpose of business. He, therefore, held that no deduction was allowable in respect of the said expenditure. He, therefore, held that