High court affirms bidding expenses and interest on share application money as deductible business costs u/s 37(1).

Bidding expenditure u/s 37 (1) - whether expenditure as incurred for setting up a new line of business? - Deduction towards Interest on the share application money forwarded to the subsidiary company - The high court agreed with the findings of the ITAT that the expenditures in question were incurred as part of the assessee's business operations and thus were deductible. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X