1981 (11) TMI 96 - AT - Income Tax

Summary

The ITAT Indore allowed the appeal of the assessee, deleting the retention of Rs. 1,000 by the AAC. The ITAT also directed that depreciation and interest on a car should be allowed at 1/3, and full allowance should be given for depreciation on a scooter and scooter expenses. Disallowance of Rs. 2,000 from shop expenses was restricted to Rs. 1,000. The appeal by the assessee was partly allowed.