G. Chella Krishna v. (2018) 168 ITD 117 (Chennai) (Trib.)

S. 37(1): Business expenditure – When income is assessed as from profits of business, then expenses incurred by assessee for purpose of earning such income is allowable.

Allowing the appeal of the assesse , the Tribunal held that; when income is assessed as from profits of business, then expenses incurred by assessee for purpose of earning such income is allowable. On facts since the assesse has agreed to disallowance of 25% of expenses before the AO , balance 75% was allowed.( AY. 2011-12)