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2012 (3) TMI 331 - HC - Income TaxWhether the expenditure incurred on education of one of the directors, who had undergone a course called Master of Science in Entrepreneurship at United Kingdom from University of Nottingham, was not expenditure wholly and exclusively incurred for the purpose of business - in the present case said director had not executed any bond that she would work for the appellant company after she completes the course and on failure shall return the money spent - The alleged board resolution has rightly not been relied upon as it was not relied and filed before the Assessing Officer. Considering the facts and circumstances of the case, the aforesaid expenditure, it has been held, cannot be regarded as wholly and exclusively incurred for the purpose of business - Appeal is dismissed
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