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2021 (3) TMI 417 - ITAT BANGALOREExpenditure towards contribution to SPV - Allowable revenue expenditure u/s 37(1) - HELD THAT:- Facts leading to the disallowance is in the present case is similar and identical to the facts in the case of Veerbhadrappa Sangappa & Co.[2020 (12) TMI 1145 - ITAT BANGALORE], we note that same is the view taken by Co-ordinate Bench in case of M/s Ramgad Minerals & Mining Ltd. [2020 (11) TMI 174 - ITAT BANGALORE] Respectfully following the view taken in above decisions and based on the above discussions and analysis, we are of the opinion that 15% contribution to SPV retained by the monitoring committee on behalf of assessee deserves to be treated as business expenditure for the year under consideration. - Decided in favour of assessee.
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