Income Tax

Deductions

— Interest — AY 1978-79 — Interest on doubtful advances credited to interest suspense account, held, deductible — Principle contained in CBDT circular dated 6-10-1952, despite withdrawal of that circular in 1978, held, stood reintroduced by CBDT circular dated 9-10-1984 in respect of AYs up to 1978-79, (2006) 5 SCC 221-A

Income Tax

Deductions

— Business expenditure — Restriction on deductible amount of, under S. 40-A(5), Income Tax Act, 1961 — AY 1978-79 — Where an employee retired and ceased to be in employment during the previous year, held, only one limit and not two separate limits would be applicable for deduction in respect of the amounts paid to him as an employee and as a former employee, (2006) 5 SCC 221-B