Interest in Replacement Rehabilitation and Development Fund must be Directly taken into P& L Account: Orissa HC [Read Order]

Replacement - Rehabilitation - Development - Fund - Orissa - HC - TAXSCAN

In the case of Paradeep Port Trust, the Orissa High Court (HC) held that interest in the replacement rehabilitation and development fund must be directly taken into Profit & Loss account. The Revenue challenged the order dated 9th August 2017 of the Income Tax Appellate Tribunal, Cuttack Bench, Cuttack (ITAT) which deleted the addition of…

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