https://www.taxtmi.com/caselaws?id=280305 The High Court held in favor of the revenue and against the assessee in interpreting employee participation expenditure under section 37(2A) of the Income-tax Act, following the precedent in CIT v. Patel Bros. & Co. Ltd. The Court also ruled in favor of the revenue regarding the disallowance of expenditure on staff transit houses under sections 37(4) and 37(5) of the Act, guided by the decision in Britannia Industries Ltd. v. CIT. The Court provided clarity on the treatment of these expenditures, upholding the disallowance as per the relevant statutory provisions. en-us Wed, 11 Jul 2007 00:00:00 +0530 Tue, 30 Apr 2019 13:00:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280305 The High Court held in favor of the revenue and against the assessee in interpreting employee participation expenditure under section 37(2A) of the Income-tax Act, following the precedent in CIT v. Patel Bros. & Co. Ltd. The Court also ruled in favor of the revenue regarding the disallowance of expenditure on staff transit houses under sections 37(4) and 37(5) of the Act, guided by the decision in Britannia Industries Ltd. v. CIT. The Court provided clarity on the treatment of these expenditures, upholding the disallowance as per the relevant statutory provisions. Case-Laws Income Tax Wed, 11 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280305