https://www.taxtmi.com/caselaws?id=245366 The High Court allowed the appeal, ruling in favor of the Revenue and against the assessee. The court held that expenses towards guest houses were not allowable deductions based on the clear and unambiguous language of the statute and the precedent set by the Britannia Industries Ltd. case. The court emphasized the importance of interpreting tax laws in line with legislative intent and established legal precedents. en-us Mon, 24 Mar 2014 00:00:00 +0530 Thu, 05 Jun 2014 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245366 The High Court allowed the appeal, ruling in favor of the Revenue and against the assessee. The court held that expenses towards guest houses were not allowable deductions based on the clear and unambiguous language of the statute and the precedent set by the Britannia Industries Ltd. case. The court emphasized the importance of interpreting tax laws in line with legislative intent and established legal precedents. Case-Laws Income Tax Mon, 24 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245366