2011 (3) TMI 157

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....Chopra   The appeal has been field by the Income Tax Department (the Department) under Section 260-A of the Income Tax Act (the Act). The appeal has been admitted on the following substantial questions of law:   "1. Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was correct in law in upholding the action of the Commissioner of Income Ta....

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.... 'Profits and gains of Business or Profession'?   4. Whether on the facts and in the circumstances of the case and the material available on record, the expenditure of Rs.4,50,000/- claimed by the assessee as contribution to Udyog Bandhu could be treated as having been incurred wholly and exclusively for the assessee's business and was liable to be allowed as an admissible deduction in put....