Section 37(1) Income Tax Act: Nexus Between Expenditure and Offense Determines Treatment, Not Direct or Indirect Nature of Expenses.

Section 37(1) Income Tax Act: Nexus Between Expenditure and Offense Determines Treatment, Not Direct or Indirect Nature of Expenses. https://www.taxtmi.com/highlights?id=16804 Addition of expenses u/s 37(1) - It does not make any difference, whether expenditure is direct or indirect - So long as there exists a nexus of the expenditure with the offence, it will continue to be hit by the Explanation - AT en-us Thu, 16 Jan 2014 10:55:55 +0530 Thu, 16 Jan 2014 10:55:55 +0530 TaxTMI RSS Generator Section 37(1) Income Tax Act: Nexus Between Expenditure and Offense Determines Treatment, Not Direct or Indirect Nature of Expenses. https://www.taxtmi.com/highlights?id=16804 Addition of expenses u/s 37(1) - It does not make any difference, whether expenditure is direct or indirect - So long as there exists a nexus of the expenditure with the offence, it will continue to be hit by the Explanation - AT Highlights Income Tax Thu, 16 Jan 2014 10:55:55 +0530 https://www.taxtmi.com/highlights?id=16804