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Income Tax - Highlights / Catch Notes

Home Highlights September 2021 Year 2021 This

Payment towards membership fee and legal fund respectively to ...

Income Tax

September 1, 2021

Payment towards membership fee and legal fund respectively to Federation of Indian Mineral Industries - this organization has been formed to safeguard the rights of mine owners and to protect interest of industries, present in this spear of mineral exploration and production. In our opinion the said amount does not qualify to be considered as donation. It is an expenditure incurred to safe-guard assessee's business interests and has to be considered under the provisions of Sec. 37(1). - AT

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