Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2022 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (1) TMI 1349 - HC - Income TaxAllowable deduction u/s 37 - donation given to Bellary DC for construction of ring road - assessee is a company engaged in the business of extraction of minerals such as bauxite and limestone etc. - HELD THAT:- The substantial questions of law involved in this appeal have already been answered in favour of the assessee by Supreme Court in 'SRI.VENKATA SATYANARAYANA RICE MILL CONTRACTORS CO. VS. COMMISSIONER OF INCOME TAX' [1996 (10) TMI 2 - SUPREME COURT]mere fact that making of a donation for charitable or public cause or in public interest results in the government giving patronage or benefit can be no ground to deny the assessee a deduction of that amount u/s 37(1) of the Act when such payment had been made for the purpose of assessee's business - Also see KARNATAKA STATE INDUSTRIAL INFRASTRUCTURE DEVELOPMENT CORPORATION LTD., [2021 (3) TMI 1343 - KARNATAKA HIGH COURT] - Decided in favour of assessee.
|