Tuesday, March 31, 2020

Provision for revision of pay as per recommendation of committee appointed by Govt. is allowable as business exp.

INCOME TAX : Provision made by assessee PSU for revision of pay of its employees as per recommendation of committee appointed by Government, was to be allowed as business expenditure

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