2015 (8) TMI 369

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....COME TAX FOR THE RESPONDENT : ADV.SRI.P.BALAKRISHNAN, ADV.SRI.MOHAN PULIKKAL AND ADV.SRI.P.P.NARAYANAN JUDGMENT Antony Dominic, J. This appeal filed by the Revenue is directed against the order passed in ITA 381/13 on the file of the Income Tax Appellate Tribunal, Cochin Bench. On facts it is seen that during the assessment year 2006-2007, the assessee had contributed Rs. 1.5 crores to....

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....nal could not have allowed deduction under Section 37 of the Act, the learned counsel for the assessee relied not only on Section 37 of the Act but also on the judgment of the Madras High Court in Commissioner of Income Tax, Madras II v. T. Stanes & Company Ltd. [105 ITR 251]. 4. We have considered the submissions made. Section 37 provides that any expenditure (not being expenditure of the natu....

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....ad 'profits and gains of business or profession'. (9) No deduction shall be allowed in respect of any sum paid by the assessee as an employer towards the setting up or formation of, or as contribution to, any fund, trust, company, association of persons, body of individuals, society registered under the Societies Registration Act, 1860 (21 of 1860), or other institution for any purpose,....