Legal Expenses Denied: Dispute Between Shareholder Groups Over Company Control Not Deductible as Business Expenses.

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Full Text of the Document

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....Disallowance of legal expenses - the complaint filed before the Chief Metropolitan Magistrate Court has been made against the Directors / Shareholders in individual capacities. The entire dispute between the various group of shareholders was only to acquire the management and control of the appellant company and, therefore, these expenses are not expenses incurred for and on behalf of the company.....