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2011 (1) TMI 918 - HC - Income TaxBusiness expenditure- expenditure for restructuring and viability study and preparation of restructuring proposal- Held that:- Expenditure towards consultation charges for restructuring of the company is for earning income and is in conformity with the provisions of section 37 of the Act. - Company had incurred expenditure on legal, financial and industrial consultation then it could not be said to be outside the purview of business of the company. - See CIT v. South India Sugars Ltd.(2004 -TMI -10417- Madras High Court). - Decided in favor of the assessee.
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