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2002 (9) TMI 38 - MADRAS HIGH COURTWhether, on the facts and in the circumstances of the case, the Appellate Tribunal having held that the expenses on management fees and lease rent were incurred before the commencement of production was right in directing the Assessing Officer to allow the expenditure on a spread over basis on the same lines as in section 35D ? - The deductions allowable under the Act have necessarily to be allowed in accordance with the provisions of the Act as it exists. The Act must be applied as one finds it and it was not open to the Tribunal to allow amortisation for expenditure for which the Act does not make provision for amortisation. – Question is answered in negative
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