https://www.taxtmi.com/caselaws?id=304414 Club membership expenditure was held allowable as business expenditure under section 37(1) where the facts showed the membership was taken for professional use, with any later personal use left open to separate disallowance. Higher depreciation at 50% was also allowed on the BMW vehicle because it satisfied the rule for a new commercial vehicle put to use within the prescribed period, and the vehicle fell within the applicable description of a commercial vehicle under the depreciation schedule. Both issues were decided against the Revenue, and the assessee's claims were upheld. en-us Mon, 29 Aug 2011 00:00:00 +0530 Sat, 24 Sep 2022 13:01:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304414 Club membership expenditure was held allowable as business expenditure under section 37(1) where the facts showed the membership was taken for professional use, with any later personal use left open to separate disallowance. Higher depreciation at 50% was also allowed on the BMW vehicle because it satisfied the rule for a new commercial vehicle put to use within the prescribed period, and the vehicle fell within the applicable description of a commercial vehicle under the depreciation schedule. Both issues were decided against the Revenue, and the assessee's claims were upheld. Case-Laws Income Tax Mon, 29 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304414