Sec. 37 of Income Tax Act, 1961 – Business Expenditure – The assessee had been engaged in the activity of construction of building, berths etc. for Chennai Container Private Limited in the Madras Port Trust. The assessee was carrying on the business of clearing and forwarding, handling port services, cargo handling, steamer agents etc. and had also made constructions in the Madras Port Trust. The Tribunal found that the assessee had already entered the line of business of constructions in the Ports and hence, submission of a tender for the Vaizag Port was not in the nature of venturing into a new line of business. Against the finding of the Tribunal, revenue filed appeal. High Court dismissed the appeal of the revenue holding that:– The project did not take off and as held by the Supreme Court on the facts in this case there was no enduring benefit obtained by the assessee. It broke down when the Government of India cancelled the tender. We do not find any question of law arising, since the facts have been gone into by the Tribunal and held in favour of the assessee – SOUTH INDIA CORPORATION LTD. [2020] 423 ITR 158 (KER)