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Income Tax - Highlights / Catch Notes

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Nature of expenses - video shooting expenses claimed by the ...

Income Tax

August 3, 2023

Nature of expenses - video shooting expenses claimed by the assessee as revenue expenditure in the computation of income but capitalized into the books of accounts and shown in the balance sheet - The video shooting expenditure does not give any enduring benefit to the assessee. - Claim cannot be disallowed mere on the basis of treatment in the Balance Sheet - AT

 

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