Monday, April 27, 2015

[aaykarbhavan] AO couldn't question reasonableness of business exp. when its genuineness wasn't doubted



 

AO couldn't question reasonableness of business exp. when its genuineness wasn't doubted

April 27, 2015[2015] 56 taxmann.com 313 (Mumbai - Trib.)
IT : Where assessee made payment of compensation to CCL, a foreign company, for premature termination of Toll Manufacturing Agreement (TMA) entered into between parties, said payment being directly having nexus with business activity of assessee, was to be allowed as deduction under section 37(1)
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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