https://www.taxtmi.com/caselaws?id=214581 The High Court affirmed the Tribunal's decision that expenses for expanding the industrial undertaking were deductible under Section 35D of the Income Tax Act. The court also upheld the amortization of expenses related to the Euro issue under the same section. The interpretation of the word "being" in Section 35D(2)(c)(iv) was held to be restrictive, limiting deductible expenses to those specifically listed in the statute. Both the Revenue's and the assessee's appeals were dismissed, with the court directing the Assessing Officer to consider the specific expenditures allowed for amortization under Section 35D(2)(c)(iv). en-us Wed, 20 Jun 2012 00:00:00 +0530 Fri, 14 Jun 2013 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214581 The High Court affirmed the Tribunal's decision that expenses for expanding the industrial undertaking were deductible under Section 35D of the Income Tax Act. The court also upheld the amortization of expenses related to the Euro issue under the same section. The interpretation of the word "being" in Section 35D(2)(c)(iv) was held to be restrictive, limiting deductible expenses to those specifically listed in the statute. Both the Revenue's and the assessee's appeals were dismissed, with the court directing the Assessing Officer to consider the specific expenditures allowed for amortization under Section 35D(2)(c)(iv). Case-Laws Income Tax Wed, 20 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214581