DIRECTOR OF INCOME TAX (IT)-I, MUMBAI vs. M/S. AMERICAN EXPRESS BANK LTD
C.A. No.-008291-008291 - 2015Supreme Court15 Dec 2025
Bench: HON'BLE MR. JUSTICE J.B. PARDIWALA
Section 28Section 37(1)Section 44C
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 under the head “Profits
and gains of business or profession” [...]”
20. The relevant portion of Section 44C
