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2007 (8) TMI 417 - HC - Income TaxCapital or Revenue Expenditure- Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in upholding the order of the Commissioner of Income-tax (Appeals) wherein he deleted the disallowance of Rs. 10,99,650 as a contribution to GIDC effluent channel project? Held that- dismiss the appeal, that the contribution made by the assessee to the Gujarat Industrial Development Corporation Effluent Channel Project was allowable expenditure.
The Gujarat High Court dismissed the appeal regarding the disallowance of a contribution to GIDC effluent channel project, citing a similar case precedent. The appeal was not admitted based on the view taken in a previous case.
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