Held that\u00a0 as the agro products of the assessee were sold under the brand name \u201cSardar\u201d, which was very popular amongst the farming community, the assessee\u2019s contention that the statue of Sardar Vallabhai Patel would significantly enhance the brand value of its products and improve sales and exports, was justified. The expenditure was, therefore, wholly and exclusively for the purpose of business on account of commercial expediency and, accordingly, was allowable under section\u00a037. Moreover, the funding was for the State Government.\u00a0 Relied on Dy.CIT v. Gujarat Narmada Valley Fertilizers Co Ltd (Tax Appeal Nos\u00a0 770 of 1999, 77, 78 of 2008, dated May 6, 2011. (AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 37(1) : Business expenditure-Donation to trust for construction of statue of Sardar Vallabhai Patel former statesman-Enhancing brand value-Allowable as business expenditure.[S.80G] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-49981","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-d09","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=49981"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49981\/revisions"}],"predecessor-version":[{"id":49982,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49981\/revisions\/49982"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=49981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=49981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=49981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}