Friday, May 25, 2018

Deduction of membership fee of social club not allowable if it wasn't taken for entertaining business clients

IT : Payment for acquiring membership in a social club was not a business expenditure, in absence of any evidence to effect that membership was acquired for entertaining customer

from www.taxmann.com Latest Case Laws https://ift.tt/2Lwg5uf

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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