Income tax

342 views 1 replies

one company have claimed one expenditure under business income but during assessment AO is saying that you must have claimed it under house property and it is not allowable under business income and as you have not  claimed this expenses under house property, hence expenditure can not be claimed under either head and will be added.

Is there any court ruling for the same.

Replies (1)
AO is correct if the exp is in relation to the HP then this exp can not claimed under business exp... u will have to relate that exp to busi...get it out of HP exp...

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