Failure to Substantiate Expenditure Incurred Exclusively for Business: ITAT Disallows Education Expenditure u/s 37(1) of Income Tax Act [Read Order]

By Fathima Karama A.M - On June 19, 2023 11:02 am - 2 mins read
Substantiate Expenditure Incurred Exclusively for Business - Business - ITAT Disallows Education Expenditure - Substantiate Expenditure - Income Tax Act -Income Tax - taxscan

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has disallowed the education expenditure under Section 37(1) of the Income Tax Act 1961 as the assessee failed to substantiate the expenditure had incurred exclusively for the purpose of business. The assessee, HVD Distributors Pvt. Ltd. was a company engaged in the business as importer and…

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