Disallowance of business expenditure - Interest income - The principal source of recurring income of the...

Disallowance of business expenditure - Interest income - The principal source of recurring income of the assessee is from the members - it was absolutely necessary for the assessee to maintain goodwill amongst its members and to lure them to continue to do their business with the society if it give presents to its members and to commemorate silver jubilee celebrations - expenditure allowed - HC .....

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