TMI Blog1987 (8) TMI 22X X X X Extracts X X X X X X X X Extracts X X X X ..... or the assessment year 1973-74. That question came up for consideration in ITC No. 52 of 1980 and, vide order dated May 19, 1982, the Division Bench of this Court rejected the application for reference. Counsel for the petitioner strongly urges that no details regarding the nature of the discretionary expenses have been furnished and that therefore, the Tribunal's findings could not be based on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... claim deduction of expenditure of large sums of money which had not been accounted for. But, having regard to the turnover of the company and nature of the expenditure involved, the Tribunal has accepted the case of the assessee that the expenditure had been wholly and exclusively laid out for the purposes of the business of the company. In these circumstances, following the decision in ITC No. 52 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as whether it was revenue or capital. The Tribunal referred to the fact that similar claims had been considered in earlier orders and subsequent orders and had been allowed in full. In fact, amounts larger than the one claimed this year had also been allowed in those years. Following this decision, the Tribunal allowed the assessee's claim for the year under appeal as well. Having regard to the fa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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