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M/S. Kanhaiyalal Dudheria Vs. The Joint Commissioner of Income Tax

Court : Karnataka Dharwad

..... it has been held under english income-tax that sums paid to an employee as pension or gratuity are deductible as money laid out and expended for the purposes of trade, profession or avocation in the case of smith vs incorporated council of law reporting for england and wales - (1914) 3 kb574and it reads thus:27. ..... we have admitted the above appeals to consider the following substantial question of law: whether the authorities below were justified in disallowing a sum of rs.1,61,30,480/- incurred towards construction of 169 houses for the villagers who had lost their homes due to natural calamity on the ground that it was not an expenditure allowable under section 37 of the income tax act, 1961, despite mou dated 02.07.2010 having been entered by the petitioner with the jurisdictional ..... mou in question which came to be entered into by the assessee with government of karnataka was on account of the clarion call given by the then chief minister of karnataka in the hour of crisis to all the philanthropist, industrial and commercial enterprises to extended their whole hearted support and the entire logistic support has been extended by the government of karnataka namely, providing land and design of the house to be constructed, approval of layout and to take care of all local problems. ..... he would also further contend that earning good will with the local 10 administration as claimed by the assessee does not become part of business expenditure under section 37(1) as claimed by the .....