1987 (3) TMI 38

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..... e, referred to us by the Income-tax Appellate Tribunal, Cochin Bench : " 1. Whether the payment of Rs. 75,000 to one Mr. Nair is revenue expenditure deductible in the computation of the business income of the assessee ? 2. Whether, on the facts and in the circumstances of the case, the rubber replantation subsidy is income assessable to income-tax ? " Question No. 2 has to be, in the light o .....

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..... tia payment and was allowable under section 37. The specific finding of the Tribunal nevertheless is: " ...This expenditure is to be considered as only incurred for protecting the property of the assessee. It would, therefore, be revenue expenditure . ... .. " The conclusion is, in our view, not warranted by the finding that the expenditure was incurred for the protection of the property. The .....

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