Friday, March 26, 2021

Education cess is deductible as revenue exp.; no disallowance u/s 40(a)(ii): ITAT

INCOME TAX : Education cess incurred by assessee is to be allowed as revenue expenditure under section 37(1)

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

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...