https://www.taxtmi.com/caselaws?id=64403 The Tribunal allowed the appeal partly, holding that the contribution of Rs. 5,00,000 to Goetze (India) Ltd. Employees' Welfare Trust was allowable as business expenditure under section 37 of the Income-tax Act, 1961. The judgments in Atherton's case and Allahabad Bank Ltd.'s case were found distinguishable and not applicable to the facts of this case. The expenditure was considered revenue in nature, made for commercial expediency, and did not result in the creation of a capital asset or enduring benefit for the assessee. en-us Tue, 23 Aug 1983 00:00:00 +0530 Mon, 07 Feb 2011 16:40:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64403 The Tribunal allowed the appeal partly, holding that the contribution of Rs. 5,00,000 to Goetze (India) Ltd. Employees' Welfare Trust was allowable as business expenditure under section 37 of the Income-tax Act, 1961. The judgments in Atherton's case and Allahabad Bank Ltd.'s case were found distinguishable and not applicable to the facts of this case. The expenditure was considered revenue in nature, made for commercial expediency, and did not result in the creation of a capital asset or enduring benefit for the assessee. Case-Laws Income Tax Tue, 23 Aug 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64403