https://www.taxtmi.com/caselaws?id=185520 Consultancy paid for corporate governance and compliance services was deductible as business expenditure because the Tribunal's finding was supported by invoices, board resolution, tax deduction at source, and evidence of actual services rendered; the payment was therefore allowable. Expenditure on advisory services connected with buyback of shares was revenue in nature under section 37 because the transaction did not bring in fresh funds, increase capital employed, create an asset, or confer an enduring advantage; the expenditure was therefore allowable. The additions were not sustained. en-us Fri, 04 Sep 2009 00:00:00 +0530 Tue, 10 Oct 2023 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185520 Consultancy paid for corporate governance and compliance services was deductible as business expenditure because the Tribunal's finding was supported by invoices, board resolution, tax deduction at source, and evidence of actual services rendered; the payment was therefore allowable. Expenditure on advisory services connected with buyback of shares was revenue in nature under section 37 because the transaction did not bring in fresh funds, increase capital employed, create an asset, or confer an enduring advantage; the expenditure was therefore allowable. The additions were not sustained. Case-Laws Income Tax Fri, 04 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185520