1997 (9) TMI 59 - HC - Income Tax

Summary

The High Court of Madhya Pradesh upheld the disallowance of expenditure on residential accommodation by a public sector undertaking for persons connected with the business. The Tribunal's decision was based on section 37(4) of the Income-tax Act, which prohibits such expenses on guest houses after February 28, 1970. The court ruled in favor of the Revenue and against the assessee.