2021 (7) TMI 1387

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...., Sc, For Income Tax, Sri.Christopher Abraham, Income Tax Department, Sri.K.M.V.Pandalai, Income Tax Department For the Respondent : Advs. Sri.V.Abraham Markos, Sri.V.Abraham Markos, Sri.Abraham Joseph Markos, Sri.Abraham Varghese Tharakan, Sri.Binu Mathew, Sri.Joseph Markose Sr., Sri.Tom Thomas Kakkuzhiyil JUDGMENT S.V.BHATTI, J. Heard learned Standing Counsel Mr. Christopher Abraham and lear....

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....tances of the case and for the reasons stated in the grounds, the Tribunal is right in law allowing the claim of Rs. 2,32,93,575/- stating that it was spent for acquisition of revenue items and is allowable under Section 37 of the Act as current expenses? 3. Whether, on the facts and in the circumstances of the case the Tribunal is right in law and fact in holding that DG Power Generation Units ....