M/S MAJESTIC AUTO LTD vs. COMMISSIONER OF IT & ANR

Bench: MR. JUSTICE AMARINDER SINGH GREWAL,MR. JUSTICE JAGMOHAN BANSAL

35D, Section 37 provides that any expenditure, not in the nature of capital expenditure or personal, laid out or expended wholly or exclusively for the purpose of business shall be allowed in computing the income chargeable under the head “Profit and gains