Supreme Court · 1996 INSC 341 · Decided 29 February 1996
The Commissioner of Income Tax, Bombay v. Bombay Dyeing and Manufacturing CO. LTD.
- Court
- Supreme Court of India
- Citation
- 1996 INSC 341 · [1996] 3 S.C.R. 65
- Case number
- CIVIL APPEAL No. 593/1978
- Decided
- 29 February 1996
- Bench
- B.P. JEEVAN REDDY, M.K. MUKHERJEE (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 10(2), 10(2)(xv)
Headnote
B Income Tax Act, 1922: Section 10(2)(.XV). Income Tax-Business expenditur~Deduction in computation of in­ come-Capital or revenue expenditur~Professional charges paid by assessee C to solicitors for effecting amalgamation of Companies-Claim for deduction as revenue expenditur~Tribunal holding for smooth functioning of business-Being expenditure incurred laid out wholly and exclusively for business of assessee it was deductible as revenue expenditurir-field Tribunal was right in its conclusion. Bombay Steam Navigation Company Pvt. Ltd. v. Commissioner of Income Tax, Bombay, 56 I.T.R.
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