https://www.taxtmi.com/caselaws?id=7172 Expenditure incurred on a film exhibition's silver jubilee celebration was treated as deductible business outlay because it was incurred in the course of the assessee's film exhibition business and connected with sustaining collections and business publicity. The court applied the test that revenue scrutiny under section 10(2)(xv) of the Income-tax Act, 1922 is confined to the reality of the expenditure and whether it was laid out wholly and exclusively for business purposes. The reasonableness and commercial expediency of the spending were primarily for the assessee to judge. The expenditure was therefore held admissible and the disallowance was not justified. en-us Mon, 18 Dec 1967 00:00:00 +0530 Thu, 12 Feb 2009 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7172 Expenditure incurred on a film exhibition's silver jubilee celebration was treated as deductible business outlay because it was incurred in the course of the assessee's film exhibition business and connected with sustaining collections and business publicity. The court applied the test that revenue scrutiny under section 10(2)(xv) of the Income-tax Act, 1922 is confined to the reality of the expenditure and whether it was laid out wholly and exclusively for business purposes. The reasonableness and commercial expediency of the spending were primarily for the assessee to judge. The expenditure was therefore held admissible and the disallowance was not justified. Case-Laws Income Tax Mon, 18 Dec 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7172