https://www.taxtmi.com/caselaws?id=383829 The High Court of Madras dismissed the Revenue's appeal related to the assessment year 1990-91 under the Income Tax Act, emphasizing that the expenditure claimed by the assessee was not wholly and exclusively for the purpose of business, thus not allowable under Section 37. The Court upheld the findings of lower authorities and the Tribunal, concluding that the assessee failed to substantiate the genuineness of service charges claimed, resulting in the denial of deductions. The judgment favored the revenue, dismissing the tax case appeal without costs. en-us Thu, 11 Jul 2019 00:00:00 +0530 Thu, 01 Aug 2019 06:07:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383829 The High Court of Madras dismissed the Revenue's appeal related to the assessment year 1990-91 under the Income Tax Act, emphasizing that the expenditure claimed by the assessee was not wholly and exclusively for the purpose of business, thus not allowable under Section 37. The Court upheld the findings of lower authorities and the Tribunal, concluding that the assessee failed to substantiate the genuineness of service charges claimed, resulting in the denial of deductions. The judgment favored the revenue, dismissing the tax case appeal without costs. Case-Laws Income Tax Thu, 11 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383829