https://www.taxtmi.com/caselaws?id=18653 The High Court ruled in favor of the Revenue, holding that the assessee was not entitled to deduction for the expenditure incurred before the approval date specified by the prescribed authority under section 35CC of the Income-tax Act, 1961. The court emphasized that approval is a prerequisite for deduction, and the extent of deductibility depends on the scope of that approval, as highlighted in the Finance (No. 2) Bill, 1977. The judgment underscores the importance of complying with statutory requirements for claiming deductions under specific provisions of the Income-tax Act. en-us Tue, 11 Jul 1995 00:00:00 +0530 Sat, 31 Oct 2009 11:31:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18653 The High Court ruled in favor of the Revenue, holding that the assessee was not entitled to deduction for the expenditure incurred before the approval date specified by the prescribed authority under section 35CC of the Income-tax Act, 1961. The court emphasized that approval is a prerequisite for deduction, and the extent of deductibility depends on the scope of that approval, as highlighted in the Finance (No. 2) Bill, 1977. The judgment underscores the importance of complying with statutory requirements for claiming deductions under specific provisions of the Income-tax Act. Case-Laws Income Tax Tue, 11 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18653