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2010 (4) TMI 296 - HC - Income TaxGuest house expenses – disallowance u/s 37(4) - Whether the Tribunal was correct in law on the facts and circumstances of the case in disallowing the Guest House expenses which are amounting to Rs. 9,59,60/- allowable under Section 30 read with Section 32 or they are to be disallowed under Section 37(4) – Held that: - after February 28, 1970 (w.e.f. 1.4.1970) when amendment was incorporated by way of adding sub-section (4) of Section 37 of the Act, there was clear prohibition to allow deduction in respect of expenditure incurred for maintenance of guest house - the question stand already decided in favour of the revenue and against the assessee.
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