Kennametal India Ltd. vs Commissioner Of Income Tax "," Anr.

Whether expenditure claimed by the assessee for Assessment Year 1994-95 under Section 37(1) of the Income Tax Act, 1961, was allowable as business expenditure --- Held: The Supreme Court remitted the matter to the Income Tax Appellate Tribunal for de-novo consideration, directing the Tribunal to distinguish between reimbursement and contribution and, if reimbursement is established, to allow the certified amount.