https://www.taxtmi.com/highlights?id=81420 The assessee's contribution to the Compensatory Afforestation Fund (CAF) is a revenue expenditure, not capital expenditure. This issue is settled, as the Bombay High Court in Dr. Prafulla R. Hede's case accepted that CAF contribution is revenue expenditure. The Supreme Court dismissed the Revenue's Special Leave Petition against Dr. Prafulla R. Hede's case, upholding the High Court's decision. Consequently, no substantial question of law arises regarding the allowability of CAF contribution as a revenue expense. en-us Tue, 17 Sep 2024 08:37:05 +0530 Tue, 17 Sep 2024 08:37:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=81420 The assessee's contribution to the Compensatory Afforestation Fund (CAF) is a revenue expenditure, not capital expenditure. This issue is settled, as the Bombay High Court in Dr. Prafulla R. Hede's case accepted that CAF contribution is revenue expenditure. The Supreme Court dismissed the Revenue's Special Leave Petition against Dr. Prafulla R. Hede's case, upholding the High Court's decision. Consequently, no substantial question of law arises regarding the allowability of CAF contribution as a revenue expense. Highlights Income Tax Tue, 17 Sep 2024 08:37:05 +0530 https://www.taxtmi.com/highlights?id=81420