Case Law Details
Case Name : Pr. Commissioner of Income Tax Vs M/s State Bank of India (Bombay High Court)
Appeal Number : ITA No. 718 of 2017
Date of Judgement/Order : 18/06/2019
Related Assessment Year :
Courts :
All High Courts Bombay High Court
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Pr. CIT Vs M/s. State Bank of India (Bombay High Court)
Conclusion:
Where employer had incurred genuine expenditure for the welfare and the benefit of the employees, contributions to unapproved and unrecognized funds had to be allowed as a deduction.
Held:
Assessee claimed deduction of expenditure of Rs.50 lakhs towards contribution to a fund created for the health care of the retired
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