PCIT v. Mysore Minerals Ltd. (2022) 143 taxmann.com 219 (Karn.)(HC) Editorial: SLP of Revenue dismissed, PCIT v. Mysore Minerals Ltd. (2022) 289 Taxman 408 (SC)

S. 37(1) : Business expenditure-Donation of amount to BDC for construction of ring road-Allowable as business expenditure.

Assessee is engaged in business of extraction of minerals, made certain amount of donation to BDC for construction of ring road and claimed same as deduction. On appeal by Revenue High Court held that since said expenditure was expended by assessee wholly and exclusively for purpose of its business, same was to be allowed as deduction. (AY. 2009-10)