Disallowance of expenses u/s 37(1) by the CPC - Associateship ...

Income Tax

July 12, 2023

Disallowance of expenses u/s 37(1) by the CPC - Associateship fees paid to Mumbai Cricket Association - Membership of the employees of the company including Chairman and Managing Director. - Wholly and exclusively for the purposes of his business or not - The claim of club membership one time entry fee is disallowable on the ground of personal expenditure. Even if the assessee uses its club facility for soliciting customers, the recurring expenditure may be allowed as business expenditure subject to verification but not the one-time entry fee. - AT

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Disallowance of expenses u/s 37(1) by the CPC - Associateship ...

Income Tax

July 12, 2023

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