Commissioner of Income Tax allows 10% deduction for business-related damage expenses u/s 37(1) of Income Tax Act.

Commissioner of Income Tax allows 10% deduction for business-related damage expenses u/s 37(1) of Income Tax Act. https://www.taxtmi.com/highlights?id=37902 Disallowance of the expenses of damage - CIT-A restricted addition to 10% - the cost incurred for the damage of goods is directly connected with the business activities of the assessee and accordingly eligible for deduction u/s 37(1) - AT en-us Fri, 09 Feb 2018 11:51:59 +0530 Fri, 09 Feb 2018 11:51:59 +0530 TaxTMI RSS Generator Commissioner of Income Tax allows 10% deduction for business-related damage expenses u/s 37(1) of Income Tax Act. https://www.taxtmi.com/highlights?id=37902 Disallowance of the expenses of damage - CIT-A restricted addition to 10% - the cost incurred for the damage of goods is directly connected with the business activities of the assessee and accordingly eligible for deduction u/s 37(1) - AT Highlights Income Tax Fri, 09 Feb 2018 11:51:59 +0530 https://www.taxtmi.com/highlights?id=37902