https://www.taxtmi.com/caselaws?id=306788 The High Court ruled in favor of the assessee, upholding the allowance of a donation for the construction of a ring road as a legitimate expenditure under Section 37 of the Income Tax Act. The Court relied on legal precedents establishing that contributions to public welfare funds directly connected to the assessee's business are allowable deductions. The appeal by the revenue was dismissed, affirming the tribunal's decision and emphasizing that such donations, benefiting the business, qualify as legitimate business expenditures under Section 37(1) of the Act. en-us Thu, 27 Jan 2022 00:00:00 +0530 Fri, 24 Feb 2023 09:04:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306788 The High Court ruled in favor of the assessee, upholding the allowance of a donation for the construction of a ring road as a legitimate expenditure under Section 37 of the Income Tax Act. The Court relied on legal precedents establishing that contributions to public welfare funds directly connected to the assessee's business are allowable deductions. The appeal by the revenue was dismissed, affirming the tribunal's decision and emphasizing that such donations, benefiting the business, qualify as legitimate business expenditures under Section 37(1) of the Act. Case-Laws Income Tax Thu, 27 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306788