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1970 (2) TMI 25 - CALCUTTA HIGH COURT
Whether the inference of the Tribunal that remittances to the U. K. came out of the profits earned in India and that the bank overdraft in India had in fact been utilised in carrying on the assessee's business was sustainable in law - Held, yes - hence, tribunal was correct in holding that the department was not justified in disallowing the interest paid by the assessee