Supreme Court Rules Forest Dept Compensation as Business Expense, Not Asset Acquisition, Confirms Assessing Officer's Decision.

Supreme Court Rules Forest Dept Compensation as Business Expense, Not Asset Acquisition, Confirms Assessing Officer's Decision. https://www.taxtmi.com/highlights?id=56925 Nature of expenditure - compensation to the Forest Department on account of the decision of Hon'ble Supreme Court - The AO admitted this fact that the amount paid was not for acquiring the new asset. - The said expenses are liable to be treated to be paid for business expenses.- AT en-us Fri, 26 Feb 2021 14:47:23 +0530 Fri, 26 Feb 2021 14:47:23 +0530 TaxTMI RSS Generator Supreme Court Rules Forest Dept Compensation as Business Expense, Not Asset Acquisition, Confirms Assessing Officer's Decision. https://www.taxtmi.com/highlights?id=56925 Nature of expenditure - compensation to the Forest Department on account of the decision of Hon'ble Supreme Court - The AO admitted this fact that the amount paid was not for acquiring the new asset. - The said expenses are liable to be treated to be paid for business expenses.- AT Highlights Income Tax Fri, 26 Feb 2021 14:47:23 +0530 https://www.taxtmi.com/highlights?id=56925