Employer's Housing Scheme Costs: Revenue, Not Capital

The Supreme Court upheld the Tribunal's decision that the amount advanced by the assessee-employer for construction of houses under a "Subsidised Industrial Scheme" for its employees is considered as revenue expenditure, not capital expenditure. The appeal was dismissed with no costs.

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The Supreme Court held that the amount advanced by the assessee-employer for construction of houses under a "Subsidised Industrial Scheme" for its employees is considered as revenue expenditure, not capital expenditure. The Tribunal's decision was upheld, and the appeal was dismissed with no costs.

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