SOCIEADADE DE FOMENTO INDL. PVT. LTD.,MARGAO vs. JOINT COMMISSIONER OF INCOME TAX, MARGAO RANGE, MARGAO

In the result, the appeal of the assessee is partly allowed and that of the Revenue is dismissed

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

bogus or false claim or the assessee has acquired any capital asset by incurring the impugned expenses towards construction of school building and renovation of two temples in the vicinity of the assessee’s mining and business activity area. So far as the conclusion of the authorities below regarding contribution towards school building is concerned, when the assessee

ACIT, CENTRAL CIRCLE, PANAJI vs. M/S SOCIADADE DE FOMENTO INDUSTRIAL P. LTD, MARGAO