https://www.taxtmi.com/caselaws?id=15246 The court ruled in favor of the assessee on all issues. It allowed the deduction of payment to FACT school as expenditure for employee welfare and business purposes, rejecting the Revenue's argument that it was a donation. The court upheld the Tribunal's finding on the understanding between the assessee and FACT school. It also rejected equating the contribution to FACT school with a government school, allowing the expenditure for employee welfare. Additionally, the court upheld the deletion of an addition to closing stock and the change in the method of valuation. en-us Mon, 25 Oct 1999 00:00:00 +0530 Mon, 03 Aug 2009 18:45:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15246 The court ruled in favor of the assessee on all issues. It allowed the deduction of payment to FACT school as expenditure for employee welfare and business purposes, rejecting the Revenue's argument that it was a donation. The court upheld the Tribunal's finding on the understanding between the assessee and FACT school. It also rejected equating the contribution to FACT school with a government school, allowing the expenditure for employee welfare. Additionally, the court upheld the deletion of an addition to closing stock and the change in the method of valuation. Case-Laws Income Tax Mon, 25 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15246