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of <h1>High Court upholds Tribunal decision on income tax deductions & surtax payments under Income-tax Act.</h1> <h3>Mohan Meakin Breweries Limited Versus Commissioner Of Income-Tax</h3> The High Court upheld the Tribunal's decision on income tax deductions and surtax payments. It found no error in denying the deduction for loss from ... Business Expenditure, Capital Expenditure Issues Involved: The judgment addresses four questions related to income tax deductions and surtax payments.Question 1 & 2: The Tribunal's decision on the loss from discarding a milk plant under sections 28 and 45 of the Income-tax Act was upheld by the High Court. The court found no error in the Tribunal's reasoning and rejected the assessee's contentions, denying the deduction.Question 3: The court referred to a Supreme Court decision in Smith Kline and French (India) Ltd. v. CIT [1996] 219 ITR 581 to affirm that surtax payable under the Companies (Profit) Surtax Act cannot be deducted in computing total income.Question 4: The Tribunal's decision to disallow the deduction of Rs. 50,000 paid for a distillery license was upheld. The court analyzed various legal precedents and concluded that the license fee constituted capital expenditure, not revenue expenditure, as it was essential for establishing the distillery.The judgment provides detailed reasoning for each question, citing relevant legal provisions and precedents to support the conclusions reached by the High Court.
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