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Income Tax - Highlights / Catch Notes

Home Highlights September 2016 Year 2016 This

Allow-ability of expenditure - scholarship to the children of ...


Scholarship and Gift Expenditures Allowed for Business Goodwill Despite No Legal Obligation.

September 29, 2016

Case Laws     Income Tax     AT

Allow-ability of expenditure - scholarship to the children of members, payment to legal heirs of members and gifts to members - even though there is no legal obligation to incur these expenditure but the assessee had incurred it for preserving business connection and goodwill of the business - claim of expenditure allowed - AT

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