Forgot password
New User/ Regiser
⇒ Register to get Live Demo
1970 (4) TMI 20 - SUPREME COURT
Guaranteeing of the loan advanced to the selling agent indirectly facilitated the carrying on of the assessee`s business. It was not in the larger interest of the assessee`s business that the guarantee was given - allowance which was claimed did not fall within section 10(2)(xi) . No attempt was made nor indeed could it be usefully made to claim any allowance under s. 10(2)(xv) - Revenue's appeal allowed