Allowable expenses
This query is : Resolved
19 February 2013
Cigratee expenses is allowable in Income TaX And Books of Accounts or not??
CA Suraj Lakhotia
(Expert)
19 February 2013
As per section 37 -
Any expenditure incurred by an assessee for any purpose which is an offence or which is prohibited by law shall not be deemed to have been incurred for the purpose of business or profession and no deduction or allowance shall be made in respect of such expenditure.
In this case same should be allowed.
Any expenditure incurred by an assessee for any purpose which is an offence or which is prohibited by law shall not be deemed to have been incurred for the purpose of business or profession and no deduction or allowance shall be made in respect of such expenditure.
In this case same should be allowed.
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