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Case Law Details

Case Name : Indian Tonners and Developers Ltd Vs ACIT (ITAT Delhi)
Related Assessment Year : 2018-19
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Indian Tonners and Developers Ltd Vs ACIT (ITAT Delhi)

ITAT Delhi has ruled in favor of Indian Tonners and Developers Ltd in a dispute regarding the disallowance of a deduction claimed under section 35(2AB) of the Income Tax Act. The Assessing Officer disallowed the deduction due to the absence of Form 3CL. However, the ITAT held that the genuineness of the expenditure was not in doubt, and the first appellate authority erred in ignoring Form 3CL issued by the competent authority. The disallowance of Rs.29,05,724/- was deeme

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