Britannia Industries Ltd vs Commissioner Of Income Tax,West ... on 5 October, 2005
Dr. Pal also referred to another decision of the Bombay High
Court in Century Spinning and Manufacturing Co. Ltd. vs.
Commissioner of Income Tax, reported in (1991) 189 ITR 660, where
following its earlier decision in the case of Chase Bright Steel Private
Ltd. (supra), it was held that Sub-Section (4) of Section 37 of the Act
is a non-obstante clause in relation to Sub-section (1) and Sub-Section
(3) of Section 37 and if any expenditure or allowance was made
allowable in other sections of the Act, the same could not be
withdrawn or denied to the assessee because of the prohibitory
provisions of Sub-section (4) of Section 37.