The expression “any expenditure” used in section 37 is to cover ...

"Any Expenditure" in Section 37 Includes Both Expenses and Losses, Even Without Actual Payment by Taxpayer.

December 20, 2012

Case Laws Income Tax AT

The expression “any expenditure” used in section 37 is to cover both “expenses incurred”as well as an amount,which is really a “loss”,even though such amount has not gone out from the pocket of the assessee the advance written off by the assessee as irrecoverable is allowable as business loss - AT

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The expression “any expenditure” used in section 37 is to cover ...

"Any Expenditure" in Section 37 Includes Both Expenses and Losses, Even Without Actual Payment by Taxpayer.

December 20, 2012

Case Laws Income Tax AT

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