Friday, October 29, 2021

Notice in SLP filed against ruling that contribution towards superannuation fund allowable though said fund was unapproved

INCOME TAX : Notice issued in SLP filed against order of High Court that contribution made towards superannuation fund was to be treated as business expenditure and, thus, same was to be allowed as deduction under section 37(1) even though said fund was unapproved under Employee's Provident Funds Act, 1952

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

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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...