https://www.taxtmi.com/caselaws?id=151881 Expenditure funded through a Technical Assistance Fund was deductible as business expenditure because it was deployed for activities within the assessee's authorised statutory functions, had a clear business nexus, and was not shown to fall within any legal prohibition. Investment in IDBI Capital Bonds also qualified for exemption under section 54E because the bonds were notified as a specified asset and the statutory conditions were satisfied, even though the assessee was the issuer, since the funds were placed beyond its control. On those principles, relief was allowed on both the expenditure and capital gains issues. en-us Fri, 03 Jan 2003 00:00:00 +0530 Fri, 12 Feb 2016 17:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151881 Expenditure funded through a Technical Assistance Fund was deductible as business expenditure because it was deployed for activities within the assessee's authorised statutory functions, had a clear business nexus, and was not shown to fall within any legal prohibition. Investment in IDBI Capital Bonds also qualified for exemption under section 54E because the bonds were notified as a specified asset and the statutory conditions were satisfied, even though the assessee was the issuer, since the funds were placed beyond its control. On those principles, relief was allowed on both the expenditure and capital gains issues. Case-Laws Income Tax Fri, 03 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151881