1985 (12) TMI 96 - AT - Income Tax

Summary

The Appellate Tribunal ITAT Chandigarh heard and disposed of the Revenue's appeal and the assessee's cross objection together. The Revenue's appeal regarding interest payment to Shri Nawal Kishor was dismissed based on the Explanation added to s. 40(b) of the IT Act. The assessee's cross objection was supported and both the appeal and cross objection were dismissed.