Expense Classification Doesn't Dictate Deduction Eligibility Under Income Tax Act Section 37(1); Substance Over Form Matters.

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....Disallowance of misuse charges - The mere nomenclature in the books of account does not determine the allowability or otherwise of the claim u/s 37(1) - The mere nomenclature in the books of account does not determine the allowability or otherwise of the claim - claim of expense allowed - AT....