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2012 (7) TMI 988 - GUJARAT HIGH COURTDeduction of expenses u/s 37(4) in respect of guest house expenses - Held that:- Such question is squarely covered in favour of the revenue by virtue of the decision of the Apex Court in case of Britannia Industries Ltd. v. Commissioner of Income Tax and another (2005 (10) TMI 30 - SUPREME Court), wherein held that section 37(4) of the Act provides for only specific items of expenditure allowable towards guest house expenses. Assessee was unable to dispute this position. In that view of the matter, we answer the question in the negative, that is, in favour of the revenue and against the assessee
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