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2012 (8) TMI 156 - HC - Income TaxDisallowance of guest house expenses and depreciation on guest house - ITAT allowed it - Held that:- As decided in Britannia Industries Ltd. v. CIT [2005 (10) TMI 30 - SUPREME COURT] that the intention of the legislature in introducing sub-sections (3), (4) and (5) of Section 37 is clear and was intended to exclude the expenses towards rents, repairs and also maintenance of premises/accommodation used for the purpose of any accommodation in the nature of guest house indicated in sub-section (4) of Section 37 - against assessee.
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