https://www.taxtmi.com/article/detailed?id=7112 A professional firm's contribution to its institute for construction of branch facilities was held deductible as a professional/business expenditure because it was incurred wholly and exclusively for professional purposes, satisfied the commercial expediency test, and had a direct nexus to carrying on the profession by producing demonstrable benefits to the firm; institutional approval under donation provisions did not bar claiming the payment under the general business expenditure provision when nexus and commercial expediency exist. en-us Thu, 08 Dec 2016 06:24:04 +0530 Thu, 08 Dec 2016 06:24:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7112 A professional firm's contribution to its institute for construction of branch facilities was held deductible as a professional/business expenditure because it was incurred wholly and exclusively for professional purposes, satisfied the commercial expediency test, and had a direct nexus to carrying on the profession by producing demonstrable benefits to the firm; institutional approval under donation provisions did not bar claiming the payment under the general business expenditure provision when nexus and commercial expediency exist. Articles Income Tax Thu, 08 Dec 2016 06:24:04 +0530 https://www.taxtmi.com/article/detailed?id=7112