1980 (7) TMI 139 - AT - Income Tax

Summary

The Appellate Tribunal ITAT Indore upheld the AAC's decision to allow deduction of interest against business income for the asst. yrs. 1970-71 and 1971-72. The Tribunal found no merit in the Revenue's appeal as the AAC's decision was in line with previous findings and directions. The appeals were dismissed. (Case citation: 1980 (7) TMI 139 - ITAT INDORE)