Incubation Expenses Disallowed as 'Other Income' Considered Non-Operational; Deduction Possible Under Income Tax Act Section 57(iii.

Disallowance of Incubation Expenses - The two streams of income were shown as ‘other income’ and therefore, the same were non-operational income - As per statutory mandate, the expenditure expanded by the assessee to earn such an income would be an allowable deduction u/s 57(iii). - AT .....

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