https://www.taxtmi.com/caselaws?id=152744 The court dismissed the Revenue's appeal against the disallowance of expenditure on a guest house under section 37(2A) for the assessment year 1997-98. It upheld the decision of the Income-tax Appellate Tribunal, ruling that expenditure on a guest house is allowable as business expenditure. Additionally, the court held that the Revenue was bound by the Central Board of Direct Taxes Circular, which set a monetary limit for filing appeals, and since the tax effect was below the specified limit, the Revenue's appeal was improper and dismissed. The court emphasized the binding nature of such circulars on the Revenue. en-us Thu, 16 Apr 2009 00:00:00 +0530 Tue, 11 Nov 2014 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152744 The court dismissed the Revenue's appeal against the disallowance of expenditure on a guest house under section 37(2A) for the assessment year 1997-98. It upheld the decision of the Income-tax Appellate Tribunal, ruling that expenditure on a guest house is allowable as business expenditure. Additionally, the court held that the Revenue was bound by the Central Board of Direct Taxes Circular, which set a monetary limit for filing appeals, and since the tax effect was below the specified limit, the Revenue's appeal was improper and dismissed. The court emphasized the binding nature of such circulars on the Revenue. Case-Laws Income Tax Thu, 16 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152744