1988 (7) TMI 22

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....s been referred to this court under section 256(1) of the Income-tax Act, 1961, for the assessment year 1968-69 : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the expenses on repairs of the premises taken by the assessee on rent were a permissible deduction ?" The facts are that the assessee claimed Rs. 24,738 as expenses for repairing of ....

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....e assets of the business of the assessee. The provision of accommodation to the employees is not de hors the business of the assessee. It is for the purpose of its business. A payment, even if made voluntarily on grounds of commercial expediency in order to facilitate the carrying on of the business, may be held to be exclusively and for the purpose of the business. The rented flats are the assets....