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2020 (5) TMI 667 - ITAT BANGALOREAllowable expenditure u/s 37(1) - contribution paid to The Deputy Commissioner, Bellary for Hampi Utsay - Hampi utsav is a cultural festival to boost the morale and cultural difference for national and international - HELD THAT:- In the present case, the payment is not only made by the assessee firm but similar payments have also been made by all the business / industrial houses situated in Bellary and nearby districts depending upon the scale of business. It is also noted by CIT(A) that the present payment has helped the firm in getting goodwill of local citizens, bureaucrats, politicians, press and others. When this is admitted by learned CIT(A) that this payment in question will help the firm in getting goodwill of local citizens, bureaucrats, politicians, press and others, this will definitely benefit the assessee firm’s business also, may at a later date. Therefore, in our considered opinion, this expenditure is an allowable expenditure under section 37(1) - Decided in favour of assessee.
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