Dismissing the appeal of the Revenue the Court held that Tribunal was justified in treating the donation given for construction of ring road was an allowable expenditure. Followed Sri Venkata Satyanarayana Rice Mills Contractors Coo v. CIT (1997) 223 ITR 101 (SC) (AY-2009-10)
PCIT v. Mysore Minerals Ltd. (2023) 450 ITR 647 (Karn.)(HC) Editorial : SLP of Revenue dismissed, PCIT v. Mysore Minerals Ltd (2022) 449 ITR 1(St)
S. 37(1) : Business expenditure-Donation given for public welfare of construction of ring road-Allowable expenditure.