Latest Income-Tax Details

For Full Access To All Latest Judgments on Income Tax
Click Here To Subscribe Now
Take a tour of our Income-Tax Library

Appeal of assessee partly allowed.In order that expenditure should qualify for deduction as contemplated by section 37(1) of the Act, one of the requirements of the provision is that the expenditure must have been laid out wholly and exclusively for the purpose of business.

Shanti Prime Publication Pvt. Ltd.

Section 37 of the Income Tax Act, 1961 — Business Expenditure — Assessee company incurred expenditure on foreign travel of wives and children of directors who accompanied them on various foreign trips could not be allowed as deduction under section 37 — Emmsons International Ltd vs. Assistant Commissioner of the income tax [2020] 180 ITD 292 (Delhi-trib)

Professional services available Audit Management
Tax Lok English Viedo
Tax Lok Hindi Viedo
Check Your Tax Knowledge
Youtube
HR Consulting services

FOR FREE CONDUCTED TOUR OF OUR ON-LINE LIBRARIES WITH OUR REPRESENTATIVE-- CLICK HERE

FOR ANY SUPPORT ON GST/INCOME TAX

Do You Want To Take FREE DEMO Of Our GST/Income Tax Library.