The Commissioner Of Income Tax Ltu vs Indian Petrochemicals Corporation ... on 6 September, 2016
In case of Commissioner of Income-tax-LTU Vs. Indian
Petrochemicals Corporation Limited, (2019) 261 Taxman 251 (Bombay)
Division Bench of Bombay High Court considered the case where the
assessee-employer had contributed to various clubs meant for staff and
family members and claimed such expenditure as deduction. Once
again the revenue had resisted in the expenditure by citing section
40A(9) of the Act. This Court confirmed the view of the Tribunal and
dismissed the revenue's appeal, in which the Tribunal had allowed the
expenditure claimed by the assessee.