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What is the nature of expenditure incurred by an assessee

Last updated: 27 September 2008

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Court :
supreme court

Brief :
Neset Holdings (P) Ltd. v. CIT (2006) Relevant section: 37(1)

Citation :
Neset Holdings (P) Ltd. v. CIT (2006) Relevant section: 37(1)

4. What is the nature of expenditure incurred by an assessee on payment of onetime fee for membership of OTCEI? Neset Holdings (P) Ltd. v. CIT (2006) Relevant section: 37(1) In this case, it was held that expenditure incurred by an assessee on payment of one-time non-refundable fee for membership of OTC Exchange of India is revenue expenditure allowable as deduction under section 37(1).

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Mr. PURNA P

CA Final Student & Tax n Law Consultant

TAXnLAW I am Mr. Purna Chandra Rao P simply you can call me asPURNA P I am a student of CA Final and preparing for CA Final and working as Asst Manager [F A], Jasper Industries Pvt Ltd, Hyderabad, Andhra Pradesh,a native of Vijayawada I created Website for CA, CS, CW and other professionals please c ... Read more

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