https://www.taxtmi.com/caselaws?id=792222 Expenditure incurred for a statutory general body meeting of a society, including gifts, boarding, lodging and allied costs, may qualify as business expenditure under section 37 where it is shown to meet the entity's business needs. The note states that business expenditure is to be construed broadly and purposively, not confined to expenses directly tied to purchase or sale activity, and that the quantum of outlay is not decisive if the spending is linked to the meeting and member participation. It also records that the assessing authority should not substitute its own view of business necessity where the Tribunal has found the expenditure to be for business purposes. en-us Mon, 18 May 2026 00:00:00 +0530 Mon, 25 May 2026 08:14:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792222 Expenditure incurred for a statutory general body meeting of a society, including gifts, boarding, lodging and allied costs, may qualify as business expenditure under section 37 where it is shown to meet the entity's business needs. The note states that business expenditure is to be construed broadly and purposively, not confined to expenses directly tied to purchase or sale activity, and that the quantum of outlay is not decisive if the spending is linked to the meeting and member participation. It also records that the assessing authority should not substitute its own view of business necessity where the Tribunal has found the expenditure to be for business purposes. Case-Laws Income Tax Mon, 18 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792222