https://www.taxtmi.com/caselaws?id=305898 The Tribunal allowed the appeal, overturning the addition of peripheral development expenses as business expenditure under section 37 of the Income Tax Act. Despite the expenditure not directly relating to the primary business activity, it was done under BMC's direction and for business purposes, supported by BMC's instructions and payments to BMC-approved contractors. The Tribunal emphasized the lack of extraneous reasons for the expenditure, highlighting its business connection, leading to the conclusion that it qualified as allowable business expenditure. en-us Thu, 13 Oct 2022 00:00:00 +0530 Thu, 29 Dec 2022 09:11:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305898 The Tribunal allowed the appeal, overturning the addition of peripheral development expenses as business expenditure under section 37 of the Income Tax Act. Despite the expenditure not directly relating to the primary business activity, it was done under BMC's direction and for business purposes, supported by BMC's instructions and payments to BMC-approved contractors. The Tribunal emphasized the lack of extraneous reasons for the expenditure, highlighting its business connection, leading to the conclusion that it qualified as allowable business expenditure. Case-Laws Income Tax Thu, 13 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305898