Taxpayer's Prior Year Rental Expenses Allowed Despite Initial Disallowance; Genuine Expenditure Confirmed by Appeals.

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Full Text of the Document

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....Disallowance of rental expenses - expenses relating to earlier year were not admissible - CIT(A) has incorrectly stated in his finding that assessee has only claimed the interest component and not claimed the rental expenses of earlier year - There is no doubt about the genuineness of the expenditure. - Claim allowed - AT....