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2017 (11) TMI 522 - HC - Income TaxAllowable business expenditure - Disallowing the contribution to Primary Agricultural Credit Cooperative Society Development Fund being non business expenditure - Held that:- Held that:- The issue is now squarely covered by the decision of this Court in case of Commissioner of Income Tax vs. M/s Rajasthan State Co-operative Bank Ltd [2017 (11) TMI 453 - RAJASTHAN HIGH COURT] wherein held that as looking to the provisions of the Rule 2003 the expenses are mandatory in nature, thus, they are required to be deducted to be kept in reserve fund and they are expenses as stated under Rule 28. - Decided in favour of assessee.
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