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Income Tax - Highlights / Catch Notes

Home Highlights March 2014 Year 2014 This

Genuineness of expenses incurred on supports event - If such ...


High Court Highlights Importance of Recognizing Legitimate Sports Event Expenses to Avoid Taxing Gross Receipts Instead of True Income.

March 10, 2014

Case Laws     Income Tax     HC

Genuineness of expenses incurred on supports event - If such expenditure is not allowed, it may amount to taxing the gross receipts of the assessee and not the income, which is not permissible - HC

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