In the result, the appeal of the assessee is treated as partly allowed
Bench: Shri George George K. & Shri B.R. Baskaranassessment Year:2009-10
depreciation and allowances are dealt with in s. 32. Therefore, Parliament has used the expression "any expenditure" in s. 37 to cover both. Therefore, the expression M/s. Infosys BPM Limited, Bangalore Page 9 of 32 "expenditure" as used in s. 37 may, in the circumstances of a particular case, cover an amount which is really a "loss" even though