2007 (4) TMI 180

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....er dated 24th March, 2006 passed by the Income Tax Appellate Tribunal, Delhi Bench "G", New Delhi in ITA No. 2039/Del/99 and 4909/Del/99 relevant for the assessment years 1995-96 and 1996- 97. 2. The only issue that arises in this appeal, as noted in our order dated 9^th October, 2006, is whether an opinion should have been expressed by the Tribunal that the question of membership of Madras Gym....

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....owed as a deduction by the Assessing Officer. 5. In appeal, the Commissioner of Income Tax (Appeals) accepted the view taken by the Assessing Officer but before the Tribunal the view taken on the basis of certain decisions, was that admission fee is not in the nature of entertainment but is an allowable business expenditure. It is because of this conclusion that the Revenue is before us. 6. ....

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....se is concerned, there is no specific finding that the payment was made by the assessee for improving its business but since the Assessing Officer has allowed a deduction of 50% of Rs.2 lakhs (that is Rs.1 lakh) under Section 37(2) of the Act, 1961, we are of the opinion, he did so on the basis that the expenditure incurred was for business purposes otherwise the entire amount would have been disa....