TMI BlogDisallowance of expenditure having regard to fair market valueX X X X Extracts X X X X X X X X Extracts X X X X ..... CODE CHAPTER - IX SPECIAL PROVISIONS TO PREVENT EVASION Disallowance of expenditure having regard to fair market value 104. (1) A person shall not be allowed a deduction under this Code in respe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich the payment is made;
(ii) the legitimate needs of the business of the person; or
(iii) the benefit derived by, or accruing to, the person therefrom. - X X X X Extracts X X X X X X X X Extracts X X X X
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