Case Law Details
Case Name : Haryana State Road & Bridges Development Corporation Ltd. Vs Commissioner of Income Tax (Punjab and Haryana High Court)
Appeal Number : ITA-85-2016 (O&M)
Date of Judgement/Order : 29/09/2016
Related Assessment Year : 2010-11
Courts :
All High Courts Punjab and Haryana HC
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CA Saurabh Chokhra
Brief of the case:
- The Hon’ble Punjab & Haryana HC in the above cited case held that guarantee commission by itself does not bring into existence any asset of an enduring nature. Therefore, guarantee commission is allowable as revenue expenditure.
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