https://www.taxtmi.com/caselaws?id=66031 The Appellate Tribunal ITAT HYDERABAD-A ruled that an assessee deriving income from a firm can claim a deduction under section 35CCA of the Income-tax Act, 1961. The case involved a taxpayer who contributed to an institution and claimed a deduction under section 35CCA. Despite initial allowance by the Income-tax Officer, the Commissioner of Income-tax challenged this deduction. The Tribunal held that the deduction was permissible as long as the payment was made from business income, emphasizing that section 35CCA does not restrict deductions based on section 67. The Tribunal overturned the Commissioner's order and ruled in favor of the assessee. en-us Mon, 12 Dec 1988 00:00:00 +0530 Mon, 21 Feb 2011 10:15:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66031 The Appellate Tribunal ITAT HYDERABAD-A ruled that an assessee deriving income from a firm can claim a deduction under section 35CCA of the Income-tax Act, 1961. The case involved a taxpayer who contributed to an institution and claimed a deduction under section 35CCA. Despite initial allowance by the Income-tax Officer, the Commissioner of Income-tax challenged this deduction. The Tribunal held that the deduction was permissible as long as the payment was made from business income, emphasizing that section 35CCA does not restrict deductions based on section 67. The Tribunal overturned the Commissioner's order and ruled in favor of the assessee. Case-Laws Income Tax Mon, 12 Dec 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66031