Bombay High Court Dismisses Revenue's Appeal in Tax Case, Upholds ITAT Order Treating Contribution for Bridge Construction as Revenue Expenditure. Contribution of ₹1,38,54,167 by Mining Company to Government Undertaking for Bridge Construction Held to be Revenue Expenditure Under Section 37(1) of Income Tax Act, 1961, as It Was for Smooth Running of Business and Not for Acquisition of Capital Asset....
The case involves a tax appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT), Panaji Bench, which held that a contribution of ₹1,38,54,167 made by t...
