Commissioner Of Income Tax vs Indian Oxygen Ltd.

Authority: Supreme Court Date: 1995-03-29 Section: 37(1) Acts: Income Tax Act 1961 Result: Assessee Citation: (1996) 134 CTR (SC) 372 : (1996) 218 ITR 337 (SC) Justices: B.P. Jeevan Reddy & G.T. Nanavati, JJ. Appeal No: Civil Appeals Nos. 2740 to 2742 of 1977*
Whether payment made to British Oxygen Co. Ltd., London under agreement dated 1st October 1959 was permissible deduction under section 37(1) of the Income Tax Act, 1961 as revenue expenditure --- Held Yes

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