Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2007 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2007 (8) TMI 251 - HC - Income TaxGenerators mfg. - payment made by assessee as an advance to the suppliers for manufacturing tools and dies, is non-refundable – these expenses provide price advantage, as these are only in revenue field, they are held revenue expenditure - explanation of assessee that holiday incentive scheme is for increase the sale of generators & it cannot be said to be contingent expenditure, is acceptable - nothing to indicate that the assessee was adopting this device for avoiding tax – deduction allowed
|