High Court held that expenditure in connection with expansion of existing business would be allowed as revenue expenditure. Court held that since tax effect was below threshold limits, Special Leave Petition is dismissed. (AY. 1998-99)
CIT v. Nirma Ltd. (2024) 299 Taxman 180 (SC) Editorial : CIT v. Nirma Ltd (2015) 229 Taxman 535 (Guj)(HC)
S. 37(1) : Business expenditure-Expansion of existing business-Revenue expenditure-Tax effect is below threshold limits-SLP of Revenue is dismissed. [S. 268A, Art. 136]