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Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
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Expenses related to the foreign travels of the family members of the directors - business expediency - As the assessee may stand to derive some business benefit from such social intercourse and, further considering that the son/s has joined business subsequently, indicating a business purpose as well, we consider it proper to restrict the disallowance to 40% of the impugned expenditure, i.e. qua TA and conveyance - AT
Expenses related to the foreign travels of the family members of the directors - business expediency - As the assessee may stand to derive some business benefit from such social intercourse and, further considering that the son/s has joined business subsequently, indicating a business purpose as well, we consider it proper to restrict the disallowance to 40% of the impugned expenditure, i.e. qua TA and conveyance - AT
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