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| The Tax Publishers2019 TaxPub(DT) 1109 (Bom-HC) : (2019) 261 TAXMAN 0251 INCOME TAX ACT, 1961
Section 40A(9)
Contribution made by assessee-company to various clubs meant for staff and their families was admissible for section 40A(9) deduction.
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Business disallowance under section 40A(9) - Contribution to employees welfare trust, - Validity of -
Whether contribution made by assessee-company to various clubs meant for staff and their families was admissible for section 40A(9) deduction as by paying fee to clubs assessee had no intention to acquire any capital asset or take advantage for enduring benefit of business and it was for running business or for bettering conduct of its business. Held: Contribution made by assessee-company to various clubs meant for staff and their families was admissible for section 40A(9) deduction.
Followed:CIT v. Indian Petrochemicals Corporation Ltd. (2016) 74 taxmann.com 163 (Guj.) : 2016 TaxPub(DT) 4563 (Guj-HC)Relied:CIT v. Mahalaxmi Glass Works (P.) Ltd. (2009) 318 ITR 116 (Bom.) : 2009 TaxPub(DT) 1608 (Bom-HC) CIT v. Mahavir Alluminium Ltd. (2008) 297 ITR 77 (Bom.) : 2008 TaxPub(DT) 1294 (Del-HC)
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
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