2004 (7) TMI 70

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....g question framed on September 10, 2003, is to be determined by this court: "Whether the Tribunal was correct in law in holding that litigation expenses amounting to Rs. 55,100 claimed by the assessee under section 57 of Income-tax Act could be disallowed by taking recourse to the provisions of section 143(1)(a) of Income-tax Act, 1961?" Reading the question, it is very clear that the issue ....

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....the execution of the deed. The appellant invested the advance received against the agreement in the FDR in the bank. Since various matters in connection with the above litigation were going on, the appellant was forced to incur the legal expenses of Rs. 55,100 to earn the interest income of Rs. 1,07,318. The appellant claimed that the amount which she had received was kept in a fixed deposit and w....

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.... make an assessment of the total income or loss of the assessee after making such adjustments to the income or loss declared in the return as are required to be made under clause (b), with reference to the b return and the accounts and documents, if any, accompanying it, and for the purposes of the adjustments referred to in sub-clause (iv) of clause (b), also with reference to the record of the a....

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....section 35A or sub-section (1) of section 35D or sub-section (1) of section 35E or the first proviso to clause (ix) of subsection (1) of section 36, any loss carried forward under sub-section (1) of section 72 or sub-section (2) of section 73 or sub-section (1) or subsection (3) of section 74 or sub-section (3) of section 74A and the deficiency referred to in sub-section (3) of section 80J, as com....