Disallowance of expenditure u/s. 37(1) - professional charges ...

Income Tax

August 7, 2018

Disallowance of expenditure u/s. 37(1) - professional charges paid - quantum of allowance - There is no power to AO to reduce the claim, whereas he can examine whether the amount can be allowed or not in full. Since the restrictions u/s. 37(1) are not applicable, the whole of the amount claimed is to be allowed as the expenditure is not proved to be personal or capital in nature.

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Disallowance of expenditure u/s. 37(1) - professional charges ...

Income Tax

August 7, 2018

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