https://www.taxtmi.com/caselaws?id=207659 The court ruled against the appellant, denying the deduction claimed under section 37 of the Income Tax Act for a subsidy given to a sister concern. The court determined that the subsidy constituted a diversion of profits and tax evasion, not a justifiable expense. Additionally, the court found no legal basis to allow the deduction for revenue expenditure, upholding the impugned orders as not violating the law. The court dismissed the appeal challenging the impugned order in light of a specific High Court decision, emphasizing the lack of merit in the argument. en-us Fri, 04 Mar 2011 00:00:00 +0530 Tue, 20 Dec 2011 10:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207659 The court ruled against the appellant, denying the deduction claimed under section 37 of the Income Tax Act for a subsidy given to a sister concern. The court determined that the subsidy constituted a diversion of profits and tax evasion, not a justifiable expense. Additionally, the court found no legal basis to allow the deduction for revenue expenditure, upholding the impugned orders as not violating the law. The court dismissed the appeal challenging the impugned order in light of a specific High Court decision, emphasizing the lack of merit in the argument. Case-Laws Income Tax Fri, 04 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207659