2015 (6) TMI 681

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..... that the concept of business is not static and over a period of time, it would include within its fold the care and concern for the society at large which would result in a goodwill being created in its favour leading to better business. The Madras High Court in Madras Refineries (supra) had allowed expenditure incurred on drinking water facilities and aid to the school. Therefore, in the present .....

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..... on the facts and circumstances of the case and in law, the Tribunal was justified in allowing the deduction of the entire expenditure of ₹ 14,42,654/- incurred under the head community development expenditure as business expenditure even though the same were not incurred wholly and exclusively for the purpose of the business? (b) Whether on the facts and circumstances of the case and in .....

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..... es were disallowed by the Assessing Officer on the ground that the same are not incurred wholly and exclusively for the purpose of Respondent's business. 5. On further appeal, the CIT(A) upheld the order of the Assessing Officer disallowing the expenditure of ₹ 14.42 lakhs for community development. 6. On further appeal, the Tribunal while following the decision of the Madras High .....

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