Dy. Commissioner Of Income Tax vs Timblo Pvt. Ltd. on 6 April, 2015
5. We have heard both the counsel and perused the records. Learned counsel of the
assessee submitted that the payment by the assessee to Forest Department for the
compensatory afforestation is a revenue expenditure, He submitted that the same has
been so held by ITAT as well as the Hon'ble Bombay High Court at Goa (in Tax Appeal
No. 66 of 2012) in the case of Dy. CIT vs. Timblo Pvt. Ltd. vide order dated 5/11/12.