1991 (2) TMI 61 - HC - Income Tax

Summary

The High Court of Bombay delivered a judgment in response to two questions referred by the Income-tax Appellate Tribunal regarding disallowances under section 40A(5) of the Income-tax Act, 1961. The court answered both questions in the negative and in favor of the assessee based on a previous court decision. The assessment year involved was 1972-73. No costs were awarded. (Case citation: 1991 (2) TMI 61 - BOMBAY High Court)