https://www.taxtmi.com/caselaws?id=18769 The High Court of Madhya Pradesh ruled in favor of the assessee, holding that the expenditure of Rs. 22,650 on plantations in the factory premises and residential quarters of a public limited company was allowable as a deduction under section 37(1) of the Income-tax Act, 1961. The court determined that the expenditure was revenue in nature, aimed at environmental preservation, and wholly and exclusively for business purposes, not constituting capital expenditure. The decision overturned the Tribunal's disallowance and directed the deduction to be allowed, emphasizing the distinction between revenue and capital expenditure. en-us Wed, 13 Dec 1995 00:00:00 +0530 Sat, 31 Oct 2009 18:38:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18769 The High Court of Madhya Pradesh ruled in favor of the assessee, holding that the expenditure of Rs. 22,650 on plantations in the factory premises and residential quarters of a public limited company was allowable as a deduction under section 37(1) of the Income-tax Act, 1961. The court determined that the expenditure was revenue in nature, aimed at environmental preservation, and wholly and exclusively for business purposes, not constituting capital expenditure. The decision overturned the Tribunal's disallowance and directed the deduction to be allowed, emphasizing the distinction between revenue and capital expenditure. Case-Laws Income Tax Wed, 13 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18769