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2018 (12) TMI 1657 - HC - Income TaxNature of expenditure - Animal Breeding & Co-operative Development Expenses - revenue or capital expenditure - HELD THAT:- The expenditure incurred by the assessee was general in nature and aimed at improving the practices for better fertility amongst milch animals by addressing the issues which caused infertility. The expenditure, therefore, was for the purpose of its business and would not be co-relatable to any tangible returns which can be expected out of such expenditure. Thus, this court has held that such expenditure incurred by the assessee is not capital in nature. The above decision of GUJARAT CO. OP. MILK MARKETING FEDARATION LTD. [2018 (10) TMI 1385 - GUJARAT HIGH COURT] therefore, be squarely applicable to the facts of the present case - Decided in favour of assessee.
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