1967 (1) TMI 76 - HC - Income Tax

Extract:
.......nditure laid out or expended wholly and exclusively for the purposes of the assessee's business and as such was allowable under section 10(2)(xv) of the Indian Income-tax Act. We answer questions Nos. 2 and 3 in the affirmative. The respondent, Commissioner of Income-tax, is to pay the costs of this reference to the assessee. MASUD J.--I agree.