https://www.taxtmi.com/caselaws?id=440190 The Tribunal dismissed the appeal, confirming the disallowance of Associateship fees as a capital expenditure and justifying the adjustment under section 143(1)(a) of the Income-tax Act, 1961. The payment to the Mumbai Cricket Association was deemed a one-time club membership fee, not allowable as a revenue expenditure. Judicial precedents supported the disallowance, with the Tribunal emphasizing that individual membership fees for club facilities are personal expenditures and not deductible as business expenses. The decision aligned with previous cases, establishing that such fees are not allowable, even if club facilities are utilized for business purposes. en-us Wed, 07 Jun 2023 00:00:00 +0530 Wed, 12 Jul 2023 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440190 The Tribunal dismissed the appeal, confirming the disallowance of Associateship fees as a capital expenditure and justifying the adjustment under section 143(1)(a) of the Income-tax Act, 1961. The payment to the Mumbai Cricket Association was deemed a one-time club membership fee, not allowable as a revenue expenditure. Judicial precedents supported the disallowance, with the Tribunal emphasizing that individual membership fees for club facilities are personal expenditures and not deductible as business expenses. The decision aligned with previous cases, establishing that such fees are not allowable, even if club facilities are utilized for business purposes. Case-Laws Income Tax Wed, 07 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440190