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Income Tax - Highlights / Catch Notes

Home Highlights April 2017 Year 2017 This

Contribution to State Renewal Fund - allowable expenditure - it ...


State Renewal Fund Contributions Qualify as Business Expenditures u/s 37(1) of Income Tax Act.

April 20, 2017

Case Laws     Income Tax     AT

Contribution to State Renewal Fund - allowable expenditure - it was a legal obligation of the assessee towards contribution of the said amount to the State Renewal Fund and there being a legal obligation as well, to be allowed u/s 37(1) as business expenditure - AT

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