https://www.taxtmi.com/caselaws?id=425753 The court allowed the appeal in favor of the appellant, rejecting the Revenue's disallowance of compensation claimed as business expenditure for the assessment years 2008-09 and 2009-10. The judgment emphasized establishing a nexus between expenditure and business purpose, considering the circumstances from a businessman's perspective. It concluded that there was a clear link between the cancellation of the Joint Development Agreement and the subsequent Construction Agreement, supported by various agreements and transactions. The court ruled in favor of the appellant based on the established connections and legal principles, allowing the appeal. en-us Fri, 22 Jul 2022 00:00:00 +0530 Thu, 07 May 2026 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425753 The court allowed the appeal in favor of the appellant, rejecting the Revenue's disallowance of compensation claimed as business expenditure for the assessment years 2008-09 and 2009-10. The judgment emphasized establishing a nexus between expenditure and business purpose, considering the circumstances from a businessman's perspective. It concluded that there was a clear link between the cancellation of the Joint Development Agreement and the subsequent Construction Agreement, supported by various agreements and transactions. The court ruled in favor of the appellant based on the established connections and legal principles, allowing the appeal. Case-Laws Income Tax Fri, 22 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425753