Ca professional expenses

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CA Rakesh Kumar (Querist)
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20 December 2014 In case of tax return where the CA firm has claimed expenses for membership fees to ICAI and phone, travel expenses as professional expenses but there was no professional income in that FY. ITO says that these expenses claimed as business loss is not allowed as these preliminary expenses. Is ITO justified and does the preliminary expenses applies to professional firms ?

Rupesh Jain

Rupesh Jain (Expert)
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20 December 2014 I my opinion this is the revenue exp. these are not the exp. before the production period.

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
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21 December 2014 ITO is in-justified while disallowing Membership fees, for Telephone expenses and travelling there may be 2nd opinion.

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