Case Law Details
Case Name : Commissioner of Income Tax Vs M/s Khemchand Motilal Jain (Madhya Pradesh High Court)
Related Assessment Year :
Courts :
All High Courts Madhya Pradesh HC
Commissioner of Income Tax Vs M/s Khemchand Motilal Jain (Madhya Pradesh High Court)- In the present case, Sukhnandan Jain was on business tour and was staying at Govt. Rest House, Sagar from where he was kidnapped. As he was on business tour, to get him released, if the aforesaid amount was paid to the dacoits as ransom money and because of this, Sukhnandan Jain was released, the petitioner claimed it a business expenditure and the authorities namely, Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal have allowed the aforesaid expenditure as business expenditure, no ...
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