Contributions to local people and institutions in area of business are allowable if paid for commercial expedience and business purposes. A discussion and learning from a recent judgment of ITAT which was result of un-necessary additions made by lower authorities.

Contributions to local people and institutions in area of business are allowable if paid for commercial expedience and business purposes. A discussion and learning from a recent judgment of ITAT which was result of un-necessary additions made by lower authorities. https://www.taxtmi.com/article/detailed?id=10544 Contributions to local people and institutions made at employees' or business associates' requests were held allowable as business expenses where paid for commercial expedience, employee welfare, business relations and goodwill; the Tribunal deleted additions after finding the payments incurred wholly and exclusively for business purposes and faulted lower authorities for ignoring binding precedent and consistency. en-us Thu, 21 Jul 2022 10:11:12 +0530 Thu, 21 Jul 2022 10:11:12 +0530 TaxTMI RSS Generator Contributions to local people and institutions in area of business are allowable if paid for commercial expedience and business purposes. A discussion and learning from a recent judgment of ITAT which was result of un-necessary additions made by lower authorities. https://www.taxtmi.com/article/detailed?id=10544 Contributions to local people and institutions made at employees' or business associates' requests were held allowable as business expenses where paid for commercial expedience, employee welfare, business relations and goodwill; the Tribunal deleted additions after finding the payments incurred wholly and exclusively for business purposes and faulted lower authorities for ignoring binding precedent and consistency. Articles Income Tax Thu, 21 Jul 2022 10:11:12 +0530 https://www.taxtmi.com/article/detailed?id=10544