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Income Tax - Highlights / Catch Notes

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The fact that an expenditure gives enduring benefit is by itself ...

Income Tax

April 19, 2014

The fact that an expenditure gives enduring benefit is by itself not conclusive as regards the nature of the expenditure - the disallowance on account of entrance fee paid by the assessee for Corporate membership of Cricket Club of India set aside - AT

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  10. Nature of expenditure - addition towards Professional Fees and treating the same as Capital Expenditure - Legal and Professional charges paid by the appellant company...

 

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