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Cricket expenses

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14 January 2013 Cricket tournament organized by company.
whether it is allowed as business expenditure??
Please refer case law & section also...\
Its urgent

14 January 2013 Dear Friend , first find out , whether the above expenditure is related to furtherance of business of the company or not.If it is on behalf of the company and for the benefit of the company then it is allowed u/s. 37 of the Income tax Act, 1961. Otherwise it is not allowed as a business expenditure.Thanks



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