ITAT recommends constitution of larger bench to decide allowability of freebies to medical professionals as a deduction
Last updated: 20 October 2021
Court :
ITAT Mumbai
Brief :
The coordinate bench of the Hon’ble Income Tax Appellate Tribunal, Mumbai ("the ITAT Mumbai") in the case of Deputy Commissioner of Income Tax v. Macleods Pharmaceuticals Ltd. [ITA Nos. 5168 & 5169/Mum/2018 decided on October 14, 2021] has recommended constitution of a larger bench to decide on whether expenditure for providing freebies to medical professionals can be allowed as a deduction in accordance with Section 37(1) of the Income Tax Act, 1961 ("the Act").
Citation :
ITA Nos. 5168 & 5169/Mum/2018 decided on October 14, 2021
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Bimal Jain
Published in Income Tax
Views : 153
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