2020 (10) TMI 798 - MADRAS HIGH COURT - Income Tax

Head Note / Extract:
Contribution made towards superannuation fund - Whether to be treated as business expenditure and is to be allowed u/s.37 or as an unapproved Fund during the year and hit by the provisions of Section 36(1)(iv) r.w.s.40A(9)? - HELD THAT:- We need not labour much to go into the facts of the case as similar question has been decided by the Division Bench of this Court on identical facts in the case of Commissioner of Income Tax v. Kattabomman Transport Corporation Limited [1998 (9) TMI 2 - MADRAS HIGH COURT] in favour of assessee.