https://www.taxtmi.com/caselaws?id=20063 The High Court partially ruled in favor of the assessee regarding disallowance u/s 43(5) of the Income-tax Act. The Tribunal's decision was upheld for most transactions, except for Rs. 1,67,371 deemed speculative. Expenditure of Rs. 68,620 on the 10th anniversary was allowed as a deduction under section 37. The Court found in favor of the assessee on this issue. Overall, the High Court partially favored the assessee and partially the Revenue on different aspects of the case. en-us Thu, 28 Oct 1993 00:00:00 +0530 Wed, 11 Nov 2009 14:09:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20063 The High Court partially ruled in favor of the assessee regarding disallowance u/s 43(5) of the Income-tax Act. The Tribunal's decision was upheld for most transactions, except for Rs. 1,67,371 deemed speculative. Expenditure of Rs. 68,620 on the 10th anniversary was allowed as a deduction under section 37. The Court found in favor of the assessee on this issue. Overall, the High Court partially favored the assessee and partially the Revenue on different aspects of the case. Case-Laws Income Tax Thu, 28 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20063