Regarding allow-ability of 1/3 of the total expenditure - Once a finding of fact has been recorded that...

Regarding allow-ability of 1/3 of the total expenditure - Once a finding of fact has been recorded that the expenditure is of revenue nature and has been spent wholly and exclusively for the purposes of the business, the same is allowable expenditure and has to be deducted while computing the total income - HC .....

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