https://www.taxtmi.com/caselaws?id=24134 The High Court partially favored the assessee by upholding the Tribunal's decision on the nature of business expenditure under section 37(2B) of the Income-tax Act, allowing the claimed deductions. However, the court ruled against the assessee regarding the eligibility for deduction under section 80G due to the absence of taxable income, aligning with the Revenue's position. The court emphasized the necessity of taxable income for invoking section 80G. No costs were awarded in this case. en-us Fri, 06 May 1988 00:00:00 +0530 Sat, 16 Jan 2010 18:11:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24134 The High Court partially favored the assessee by upholding the Tribunal's decision on the nature of business expenditure under section 37(2B) of the Income-tax Act, allowing the claimed deductions. However, the court ruled against the assessee regarding the eligibility for deduction under section 80G due to the absence of taxable income, aligning with the Revenue's position. The court emphasized the necessity of taxable income for invoking section 80G. No costs were awarded in this case. Case-Laws Income Tax Fri, 06 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24134