In Revenue In Income Tax Appeal (L) v. Lubrizol India Ltd. And This Court By An Order Dated, the High Court (2013) dismissed the appeal. The decision went in favour of the assessee.
Issue: Whether on the facts and in the circumstances of the case and in law the Tribunal was justified in holding that the amount of Rs.33.34,000/- paid by the assessee as entrance fees for corporate membership of Cricket Club of India was allowable business expenditure under the Income Tax Act, 1961?
Decision: 3)Accordingly, the appeal is dismissed with no order as to costs.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
ASN
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.1472 OF 2011
Commissioner of Income Tax Central II.v.
M/s. SSKI Corporate Finance Pvt. Ltd.
..Appellant.
..Respondent.
Mr. Abhay Ahuja for the Appellant.
Mr. Hiro Rai with Subhash Shetty for the Respondent.
CORAM : J.P. DEVADHAR AND
M.S. SANKLECHA, JJ.
DATE : 08TH FEBRUARY, 2013.
PC:
In this appeal by the revenue following question of law
has been raised for our consideration.
Whether on the facts and in the circumstances of
the case and in law the Tribunal was justified in holding that the amount of Rs.33.34,000/- paid by the assessee as entrance fees for corporate membership of Cricket Club of India was allowable business expenditure under the Income Tax Act, 1961?
2)
Similar question amongst others was raised by the
revenue in Income Tax Appeal (L) No.1425 of 2012 in the matter of CIT v. Lubrizol India Ltd. and this Court by an order dated
1/2/2013 refused to entertain the appeal on the above question viz. Whether entrance fee of club membership is allowable as business expenditure? For the reasons mentioned in the order dated 1/2/2013 in Income Tax Appeal Lodging No.1425 of 2012 we see no reason to entertain the proposed question of law.
3)Accordingly, the appeal is dismissed with no order as to costs.
(M.S.SANKLECHA, J.)
(J.P. DEVADHAR, J.)
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