https://www.taxtmi.com/caselaws?id=61664 The Tribunal held that Section 37(4) of the Income Tax Act disallows expenses related to maintaining a guest house, overriding Section 30. Relying on the precedent set in Eicher Tractors Ltd. vs. Dy. CIT, the Tribunal concluded that rent and depreciation for guest houses are not allowable under Section 37(4). The decision favored the Department, setting aside the CIT(A)'s order and upholding the Assessing Officer's disallowance of guest house expenses. The Tribunal emphasized the binding nature of the Special Bench decision and cited supporting judgments from the Calcutta and Rajasthan High Courts. en-us Tue, 24 Aug 2004 00:00:00 +0530 Wed, 27 Jun 2012 16:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61664 The Tribunal held that Section 37(4) of the Income Tax Act disallows expenses related to maintaining a guest house, overriding Section 30. Relying on the precedent set in Eicher Tractors Ltd. vs. Dy. CIT, the Tribunal concluded that rent and depreciation for guest houses are not allowable under Section 37(4). The decision favored the Department, setting aside the CIT(A)'s order and upholding the Assessing Officer's disallowance of guest house expenses. The Tribunal emphasized the binding nature of the Special Bench decision and cited supporting judgments from the Calcutta and Rajasthan High Courts. Case-Laws Income Tax Tue, 24 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61664