THE COMMISSIONER OF INCOME - TAX vs. M/S BIOCON LTD.,
In the result, we do not find any merit in this
ITA/653/2013HC Karnataka11 Nov 2020
Bench: ALOK ARADHE,H.T. NARENDRA PRASAD
Section 260Section 260ASection 37
capital expenditure or personal
expenses
of
the
assessee),
laid
out
or
expended wholly and exclusively for the
purposes of the business or profession shall be
allowed in computing the income chargeable
13
under the head, “Profits and Gains of Business
or Profession”.
7.
Thus, from perusal of Section 37 (1) of the
Act, it is evident that the aforesaid provision
