1998 (3) TMI 36 - HC - Income Tax

Summary

The High Court of Madras considered whether certain expenditures claimed by a printing and publishing company were allowable as business expenditures for the assessment years 1972-73 to 1974-75. The Appellate Tribunal found the expenditures were routine business expenses and not entertainment expenses, thus allowing them as deductions. The Court agreed with the Tribunal, stating the expenditures were allowable as business expenses for the relevant assessment years. The question of law was answered in favor of the assessee, with no order as to costs. (Case citation: 1998 (3) TMI 36 - MADRAS High Court)