Sponsorship payments to Knight Riders Sports Pvt. Ltd. by assessee allowed as deduction under IT Act Section 37(1).

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....Allowable deduction u/s 37(1) - expenditure incurred by the assessee by way of payment to Knight Riders Sports Pvt. Ltd. for obtaining sponsorship rights in favour of Star India Pvt. Ltd. - Business nexus established - deduction allowed - AT....