Assessee claimed deduction of expenditure incurred on fertility improvement amongst milk animals. AO rejected the claim by holding that expenditure was capital in nature. Tribunal allowed the claim of the assessee. High Court up held the order of the Tribunal. (AY. 2008-09)
PCIT v. Gujarat Co. Op. Milk Marketing Federation Ltd. (2020) 113 Taxmann.com 84 / 269 Taxman 42 (Guj.)(HC) Editorial : SLP of revenue is dismissed; PCIT v. Gujarat Co. Op. Milk Marketing Federation Ltd. (2020) 269 Taxman 41 (SC)
S. 37(1) : Business expenditure-Capital or revenue-Expenditure incurred on fertility improvement amongst milk animals-Held to be allowable as revenue expenditure.