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2019 (8) TMI 655 - HC - Income TaxMembers Welfare Fund - allowable expenditure u/s 37 - HELD THAT:- Questions as proposed by the Revenue are no longer resintegra in view of a decision of this Court in the case of Karjan Cooperative Cotton Sales Ginning & Pressing Society [1992 (1) TMI 39 - GUJARAT HIGH COURT] as held that expenditure incurred for purchase of articles for presentation only to its members for keeping alive good image among members and for generating goodwill and ensuring continuity of business with member societies was geld to the expenditure incurred wholly and exclusively for the purpose of business. The facts of the appellant's case, in so far as the above decision is concerned, differ only to the extent that in the relied upon case the household stainless steel utensils were distributed to the members of the said Coop. Society, whereas the bank asked the members to take the gift item worth ₹ 400/from the selected stores. - Decided against revenue.
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