Entertainment expenditure limits: percentage limits must be calculated before deductions for development and investment allowances. The percentage limits for entertainment expenditure under section 37(2A) are to be calculated with reference to the quantum of profits and gains of the business or profession as computed before allowing deductions for development rebate, development allowance, entertainment expenditure, and investment allowance admissible under section 32A.
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.
Entertainment expenditure limits: percentage limits must be calculated before deductions for development and investment allowances.
The percentage limits for entertainment expenditure under section 37(2A) are to be calculated with reference to the quantum of profits and gains of the business or profession as computed before allowing deductions for development rebate, development allowance, entertainment expenditure, and investment allowance admissible under section 32A.
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