Friday, 2 January 2015

No reassessment to deny deduction under sec. 35D on GDR issue exp. if it was allowed in earlier year

IT : Where assessee-company amortized total expenditure on Euro issue over a period of 10 years and 1/10th of same had been claimed as deduction under section 35D and same had been allowed in earlier years, reopening of assessment to deny said claim for subsequent year was not proper


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