https://www.taxtmi.com/caselaws?id=397724 The Tribunal allowed the appeal filed by the assessee, directing the Assessing Officer to delete the disallowance of social welfare expenditure amounting to Rs. 1,79,91,250. The Tribunal held that the expenditure incurred for constructing houses for flood victims was deductible under section 37(1) as legitimate business expenses, emphasizing that contributions to public welfare, when connected to business interests, could be considered as such. The decision aligned with a previous ruling by the High Court, highlighting the business-related benefits of such expenditures. en-us Fri, 21 Aug 2020 00:00:00 +0530 Thu, 27 Aug 2020 11:34:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397724 The Tribunal allowed the appeal filed by the assessee, directing the Assessing Officer to delete the disallowance of social welfare expenditure amounting to Rs. 1,79,91,250. The Tribunal held that the expenditure incurred for constructing houses for flood victims was deductible under section 37(1) as legitimate business expenses, emphasizing that contributions to public welfare, when connected to business interests, could be considered as such. The decision aligned with a previous ruling by the High Court, highlighting the business-related benefits of such expenditures. Case-Laws Income Tax Fri, 21 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397724