School Expenses for FACT School Allowable u/ss 37(1) & 40A(10), Essential for Employee Welfare and Business Operation.

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Full Text of the Document

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....Disallowance of school expenses - contribution for the running of the FACT School - an expenditure for the smooth functioning of the business of the assessee and an expenditure wholly and exclusively for the welfare of the employees of the assessee and thus, allowable under section 37(1) as well as section 40A(10) of the Act.....