2004 (11) TMI 80

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..... ayments were held to be genuine in nature and were found to be actually incurred in the course of business activity as business expenditure - Commissioner of Income-tax (Appeals) and the Tribunal after examining the nature of expenditure claimed by the assessee held them as business/revenue expenditure and accordingly allowed to be deducted from the gross total income. - If it is found as a fact t .....

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..... 91,871 was allowable business expenditure in the assessment year in question and whether the same was rightly allowed by the Commissioner of Income-tax (Appeals) and the Tribunal? Both the Commissioner of Income-tax (Appeals) and the Tribunal examined the nature of expenditure claimed by the assessee as one of the item of deletion. It was found as a fact that the expenses claimed by the assessee .....

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..... sdiction under section 260A ibid. If it is found as a fact that the assessee has incurred expenditure then the Revenue has no right to say that no such expenditure is called for or can be incurred or it is not necessary. It is for the assessee to prove the expenses and the manner in which it is to be incurred in its commercial expediency to run their business effectively. Any lawful payment if fou .....

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