1986 (4) TMI 78 - AT - Income Tax

Summary

The ITAT Ahmedabad-A allowed the appeal by the assessee regarding disallowance of Investment Allowance and certain expenses. The disallowance of Investment Allowance was overturned as the assessee had debited the partner's accounts in accordance with s. 32A(4). The disallowance of certain expenses was also canceled as they were fully vouched. The appeal was allowed.