https://www.taxtmi.com/caselaws?id=281578 The High Court of Bombay upheld the Tribunal's decision regarding the allowability of expenditure incurred by an oil exploration and refining company towards grant-in-aid for providing basic education in Kendriya Vidyalaya Schools for employees' children. The Court determined that the expenditure fell under section 37(1) of the Income Tax Act and was not impacted by section 40A(9), emphasizing its alignment with business purposes and employee welfare. The Court referenced previous judgments to support its decision and dismissed the Revenue's appeal, finding no legal question to address. en-us Mon, 11 Feb 2019 00:00:00 +0530 Tue, 25 Jun 2019 18:49:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281578 The High Court of Bombay upheld the Tribunal's decision regarding the allowability of expenditure incurred by an oil exploration and refining company towards grant-in-aid for providing basic education in Kendriya Vidyalaya Schools for employees' children. The Court determined that the expenditure fell under section 37(1) of the Income Tax Act and was not impacted by section 40A(9), emphasizing its alignment with business purposes and employee welfare. The Court referenced previous judgments to support its decision and dismissed the Revenue's appeal, finding no legal question to address. Case-Laws Income Tax Mon, 11 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281578