https://www.taxtmi.com/caselaws?id=2055 The High Court upheld the Tribunal's decision to allow the expenditure as a deduction for the assessment year 1975-76. The Court found that the expenses were related to the business activities of the assessee and were spent during a previous year without corresponding business receipts, justifying their allowance in the relevant accounting period. The Court ruled in favor of the assessee, rejecting the revenue's disallowance of the expenses and disposing of the reference accordingly. en-us Thu, 01 Mar 2007 00:00:00 +0530 Sat, 02 Aug 2008 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2055 The High Court upheld the Tribunal's decision to allow the expenditure as a deduction for the assessment year 1975-76. The Court found that the expenses were related to the business activities of the assessee and were spent during a previous year without corresponding business receipts, justifying their allowance in the relevant accounting period. The Court ruled in favor of the assessee, rejecting the revenue's disallowance of the expenses and disposing of the reference accordingly. Case-Laws Income Tax Thu, 01 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2055