https://www.taxtmi.com/caselaws?id=30310 The High Court upheld the Tribunal's decision to disallow claimed expenses by a public limited company for the assessment year 1978-79. The expenses, related to maintaining the company's legal status, were deemed unjustified due to the cessation of business activities, as they were not directly linked to income generation. The court ruled in favor of the Revenue, emphasizing the necessity of business operations to justify expense deductions for tax purposes. en-us Tue, 20 Mar 2007 00:00:00 +0530 Mon, 25 Aug 2008 16:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30310 The High Court upheld the Tribunal's decision to disallow claimed expenses by a public limited company for the assessment year 1978-79. The expenses, related to maintaining the company's legal status, were deemed unjustified due to the cessation of business activities, as they were not directly linked to income generation. The court ruled in favor of the Revenue, emphasizing the necessity of business operations to justify expense deductions for tax purposes. Case-Laws Income Tax Tue, 20 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30310