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Income Tax

Addition made u/s 36(1)(iii) of the Act – The expenditure may n...

Income Tax Act Section 36(1)(iii): Business Expenses Allowable Even Without Legal Obligation if Commercially Expedient.

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Income TaxJanuary 19, 2014Case LawsAT

Addition made u/s 36(1)(iii) of the Act – The expenditure may not have been incurred under any legal obligation, but yet it is allowable as business, expenditure if it, was incurred on grounds of commercial expediency - AT

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