1987 (8) TMI 22

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....e first question is concerned, the Tribunal referred to its previous order for the assessment year 1973-74. That question came up for consideration in ITC No. 52 of 1980 and, vide order dated May 19, 1982, the Division Bench of this Court rejected the application for reference. Counsel for the petitioner strongly urges that no details regarding the nature of the discretionary expenses have been....

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....ailable. It is, of course, true that the assessee should not be permitted to claim deduction of expenditure of large sums of money which had not been accounted for. But, having regard to the turnover of the company and nature of the expenditure involved, the Tribunal has accepted the case of the assessee that the expenditure had been wholly and exclusively laid out for the purposes of the business....

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....t in doubt when the matter came up before the Tribunal and the only question was whether it was revenue or capital. The Tribunal referred to the fact that similar claims had been considered in earlier orders and subsequent orders and had been allowed in full. In fact, amounts larger than the one claimed this year had also been allowed in those years. Following this decision, the Tribunal allowed t....