Deduction of outgoings for purposes of computation ‑ Whether political contributions constitute outgoings within the meaning of clause (j) of sub‑section (4)
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Political contributions as outgoings: deductible only when made for commercial expediency under illustrative statutory language. Contributions by a company to a political party or for a political purpose constitute outgoings for computation under clause (j) of sub section (4) only when made for commercial expediency; the illustrative phrase 'outgoings inclusive of...' is not exhaustive, so lack of a specific reference to the enabling provision does not prevent such treatment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Political contributions as outgoings: deductible only when made for commercial expediency under illustrative statutory language.
Contributions by a company to a political party or for a political purpose constitute outgoings for computation under clause (j) of sub section (4) only when made for commercial expediency; the illustrative phrase "outgoings inclusive of..." is not exhaustive, so lack of a specific reference to the enabling provision does not prevent such treatment.
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