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2004 (9) TMI 53 - HC - Income Tax"Whether Tribunal is correct in law in allowing the deduction of Rs. 1,20,000 paid to Southern Technical Services (P.) Ltd. as consultancy fee under section 37?" - Tribunal has come to the conclusion that the Southern Technical Services (P.) Ltd., was giving advice on legal, financial and industrial matters even locally, orally or through news bulletins/information bulletins and it cannot be said to be outside the purview of the business of the company - contention of the assessee cannot be rejected merely on the reason that the very same service can be obtained from various sources easily as contended by learned counsel for the Department - The reasoning given by the Tribunal is perfectly in conformity with the provisions of section 37 of the Income-tax Act, which provides for the expenditure to be allowed.
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