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2013 (1) TMI 830 - AT - Income TaxBusiness Expenditure - Annual Event Celebration expenses - Whether the expenditure incurred on carrying out a contract work on annual event celebrated by the naval staff is allowable under section 37 of the I.T. Act, 1961 - HELD THAT:- the amount was contributed to the function of Naval Staff which is necessary for the purpose of a business, being a contractor doing the work in the Naval facility,therefore expenditure is allowable under section 37(1). The expenditure should be allowed as deduction under section 37 of the I.T. Act 1961.
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