Friday, August 24, 2018

No deduction if assessee failed to prove that service availed from AE was for business purpose: HC

IT : Where assessee claimed as revenue expenditure amount paid to its associate company, for providing various expert advisory and other security related services and knowhow but had failed to explain how agreement entered into between them had facilitated its business, payment made to said company could not be allowed as business expenditure not being expended wholly and exclusively for business purposes

from www.taxmann.com Latest Case Laws https://ift.tt/2MK3xTC

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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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