Gujarat State Fertilizers and Chemicals Ltd. v.Dy. CIT (2024) 110 ITR 641 (Ahd)(Trib)

S.14A : Disallowance of expenditure-Exempt income-Administrative expenses-Investment made from assessee’s own Funds-Matter remanded.[S.115J, R.8D]

The Tribunal held that the Assessing Officer to verify whether current liabilities and provisions not reduced from opening and closing stock of current assets to extent borrowings used for business and whether investment made from assessee’s own Funds. Matter remanded.  (AY. 2011-12)

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