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2009 (6) TMI 76 - HC - Income TaxCapital Expenditure versus Revenue Expenditure – Construction of hockey stadium – amount of Rs. 24 paid for securing the contract - held that - The Tribunal also noted that the mere willingness expressed by the assessee to construct the hockey stadium in the District Collectorate for a value of Rs. 24 lakhs cannot be construed as a bribe to a person or the money was contributed for a private fund or for the benefit of any individual which could be regarded as a form of illegal gratification - Therefore, the claim made by the assessee that he volunteered for constructing the hockey stadium for generating goodwill and for promoting his business activities, especially where such construction of hockey stadium was for the welfare of the public which was not prohibited in law, has to be sustained – expenditure in the nature of promotion of business – allowed to be deducted
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