https://www.taxtmi.com/caselaws?id=33657 The court ruled in favor of the Revenue regarding the interpretation of section 37(3A/3B) disallowing the driver's salary deduction, emphasizing legislative intent to exclude certain expenses under section 37. The court also upheld the assessee's claim for deduction on account of leave with wages/salary as a contingent liability, following the mercantile system of accounting. Additionally, the court recognized the refinery units as industrial undertakings eligible for investment allowance, contrary to the Assessing Officer's initial disallowance. The judgments were based on statutory interpretation and consistency with past decisions, resulting in a favorable outcome for the assessee in all three issues. en-us Wed, 06 Dec 2006 00:00:00 +0530 Tue, 02 Jun 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33657 The court ruled in favor of the Revenue regarding the interpretation of section 37(3A/3B) disallowing the driver's salary deduction, emphasizing legislative intent to exclude certain expenses under section 37. The court also upheld the assessee's claim for deduction on account of leave with wages/salary as a contingent liability, following the mercantile system of accounting. Additionally, the court recognized the refinery units as industrial undertakings eligible for investment allowance, contrary to the Assessing Officer's initial disallowance. The judgments were based on statutory interpretation and consistency with past decisions, resulting in a favorable outcome for the assessee in all three issues. Case-Laws Income Tax Wed, 06 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33657