High Court held that electricity charges was allowable as deduction and there was no violation of the policies or guidelines by any of the parties to the lease agreement pointed out by the Electricity Board till date. SLP of Revenue is dismissed. (AY. 1998-99, 2000-01 to 2003-04)
CIT v. Tube Investments of India Ltd. (2023) 292 Taxman 465 (SC) CIT v. Tube Investments of India (P.) Ltd. (2023) 292 Taxman 546 (SC) Editorial : CIT v. Tube Investments of India Ltd (2022) 446 ITR 676/ 288 Taxman 524 (Mad)(HC)
S. 37(1) : Business expenditure-Electricity charges-Allowable as deduction.