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2011 (9) TMI 667 - HC - Income TaxExpenditure incurred on closure of business of manufacturing activity - Assessee in more than one business, manufacturing Powdered Soft Drink & Trading in Soft drink - employees in manufacturing activity were laid of, severance cost of employees 93,91,706 & marketing cost of research 29,14,242, treated as Capital Expenditure - Held That:- In view of Narain Swadeshi Weaving Mills v. CEPT (1954 - TMI - 11 - SUPREME Court), since the assessee had been doing other business activity also, namely, "trading" it could not be said that the assessee had closed its business. - Decided in favor of assessee.
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