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2014 (8) TMI 76 - BOMBAY HIGH COURTDeduction of interest on fixed deposits u/s 80V – Nexus between deposits and payment – Held that:- assessee failed to establish that the money was borrowed for the purpose of payment of taxes and as such the dis-allowance of interest u/s 40A(8) of the Act cannot be interfered with - Following the decision in Hindustan Cocoa Products Ltd v/s Commissioner of Income Tax [1998 (11) TMI 115 - BOMBAY High Court] - Decided against Assessee. Sales promotion expenses – Scope of term ‘other places of work’ as per Explanation 2 to section 37(2A) – Held that:- Whether expenses incurred in a hotel would fall within “or other place of their work” appearing in Explanation 2 to Section 37(2A) of the Act, would entirely depend on the facts of each case - Nothing has been brought to notice to controvert the findings or to show that they are perverse or vitiated by any error of law apparent on the face of the record - It can hardly be argued that by the employees accompanying their customers for lunches and dinner, they were engaged in work and would therefore fall within “other place of their work” as contemplated in the Explanation – Decided against Revenue.
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