https://www.taxtmi.com/caselaws?id=792222 Expenditure on gifts, boarding, lodging and related arrangements for a society's statutory general body meeting may qualify as business expenditure where it is incurred for the entity's business needs and member participation. Business expenditure is construed broadly and is not limited to costs directly connected with purchase or sale activities. The amount spent is not determinative if the expenditure is demonstrably linked to convening and conducting the meeting. Revenue authorities should not disallow such expenditure merely by substituting their assessment of commercial necessity for findings supported by the material. 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 on gifts, boarding, lodging and related arrangements for a society's statutory general body meeting may qualify as business expenditure where it is incurred for the entity's business needs and member participation. Business expenditure is construed broadly and is not limited to costs directly connected with purchase or sale activities. The amount spent is not determinative if the expenditure is demonstrably linked to convening and conducting the meeting. Revenue authorities should not disallow such expenditure merely by substituting their assessment of commercial necessity for findings supported by the material. Case-Laws Income Tax Mon, 18 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792222