1941 (12) TMI 28 - AT - Income Tax

Summary

The Appellate Tribunal ITAT Nagpur answered questions (2) and (3) affirmatively without contest. However, they answered question (1) negatively, stating that the Income-tax Officer should have allowed for "expenditure incurred" during the relevant period. The Tribunal awarded the assessee costs of Rs. 25 and ordered payment from the Rs. 100 deposit.