Pgbp
This query is : Resolved
Asawari Malhotra
(Querist)
14 June 2013
ABC Ltd has engaged one Advocate with regard to its legal proceedings. The company provides him facilities like free transport , boarding/lodging and has incurred ₹50,000 on it .. Will this be allowable as an expense under pgbp ? If yes, under what section ?
CA PARTH SHAH
(Expert)
15 June 2013
Such Exp will be allowable under section section 37 of the Income Tax Act as such expenditure are incurred for business purpose and are of revenue expenditure.
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CMA Ramesh Krishnan
(Expert)
16 June 2013
Yes.if the legal proceedings related to business it allowable u/s.37
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