https://www.taxtmi.com/caselaws?id=279482 The Tribunal upheld the CIT(A)'s decision to allow foreign tax payments as business expenditure under section 37(1) of the Income Tax Act, rejecting the Revenue's appeal. The disallowance of expenses on maintenance of ships was dismissed due to lack of COD approval. The Tribunal emphasized the need for COD approval before pursuing certain issues, leading to the dismissal of this ground of appeal. The judgment was delivered on 23rd December 2010. en-us Thu, 23 Dec 2010 00:00:00 +0530 Tue, 19 Mar 2019 14:49:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279482 The Tribunal upheld the CIT(A)'s decision to allow foreign tax payments as business expenditure under section 37(1) of the Income Tax Act, rejecting the Revenue's appeal. The disallowance of expenses on maintenance of ships was dismissed due to lack of COD approval. The Tribunal emphasized the need for COD approval before pursuing certain issues, leading to the dismissal of this ground of appeal. The judgment was delivered on 23rd December 2010. Case-Laws Income Tax Thu, 23 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279482