Royalty Payments Not Deductible as Life Insurance Business Expenses Under Income Tax Act Provisions for Shareholders' Accounts.

Income in the shareholders a/c has to be computed under the normal provisions of the computation of income in Income Tax Act. Royalty paid by the assessee in our view cannot be regarded to be an expense relating to the life insurance business. - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X