2008 (9) TMI 309 - SCH - Income Tax

Assessee claimed the aid given to the residents living in the vicinity of the factory of the assessees as a business expenditure under section 37 of the Income-tax Act. Tribunal and HC allowed the amount of aid given to residents living in the vicinity as business expenditure SC observed no finding on this aspect in the impugned judgment of the Tribunal as well as in the judgment of the High Court therefore matter remanded to tribunal after setting aside the orders.

Summary

The Supreme Court allowed the civil appeals, setting aside the High Court judgment and remitting the matter to the Tribunal for further examination regarding the deduction claim under section 37 of the Income-tax Act, 1961.