Revenue expenditure deduction for notified corporations applies only to authorised statutory purposes under the income tax framework.

Revenue expenditure, and not capital expenditure, incurred by a corporation or body corporate is allowable where the entity is constituted or established by a Central, State or Provincial Act, is notified by the Central Government where required, and the spending is for the objects and purposes authorised by the Act under which it is constituted. The deduction is confined to revenue outgoings incurred by a qualifying notified corporation or body corporate for authorised statutory purposes.

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