Bombay High Court Allows Deduction for Transit Quarter Maintenance in Favor of Assessee — Premises Used for Business Purposes Not a Guest House Under Section 37(4) of Income Tax Act, 1961. Expenditure on Accommodating Employees on Business Visits is Allowable as Business Expenditure Under Section 37(1).
11 Jul 2005The case involved a reference under Section 256(1) of the Income Tax Act, 1961, at the instance of the assessee, M/s. Greaves Cotton & Co. Ltd., arisi...




