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Commissioner of Income Tax-7 Versus M/s Nicholas Piramal (India) Ltd.

Community development expenditure - whether be allowable as business expenditure - ITAT allowed claim - Held that:- Tribunal while following the decision of the Madras High Court in Commissioner of Income Tax v/s. Madras Refineries Ltd., [2003 (11)47 - MADRAS High Court] held that the concept of business is not static and over a period of time, it would include within its fold the care and concern for the society at large which would result in a goodwill being created in its favour leading to be .....

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Jamdar,JJ. For the Appellant : Mrs S V Bharucha For the Respondent : Mr J D Mistry, Sr. Adv. Mr Neeraj Sheth and Mr A K Jasani ORDER P.C. This Appeal under Section 260A of the Income Tax Act, 1961 (the Act), challenges the order dated 15th March, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal) for the Assessment Year 1998-99. 2. The Revenue has formulated the following questions of law for our consideration:- "(a) Whether on the facts and circumstances of the case and in la .....

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ut giving any valid reason for the said finding?" 3. Mrs. Bharucha, learned Counsel appearing for the Revenue states that question (b) is not being pressed. 4. So far as question (a) is concerned, the Respondent-Assessee had during the year under consideration claimed deduction on the aggregate of ₹ 14.42 lakhs under the head 'community development expenditure. This expenditure was for providing street lights on the road which leads to the Respondent's factory, providing ambul .....

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