Business expenditure u/s 37 - Word ‘wholly’ refers to quantum of ...

Income Tax

December 7, 2018

Business expenditure u/s 37 - Word ‘wholly’ refers to quantum of expenditure and word ‘exclusively’ refers to motive, object and purpose of the expenditure. Personal expenses or money spend for private purpose is not deductible. They fail the business expediency test - onus on the assessee to prove.

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Business expenditure u/s 37 - Word ‘wholly’ refers to quantum of ...

Income Tax

December 7, 2018

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