Expenditure towards Contribution for Running of School as Business Expenditure: Orissa HC [Read Order]

In a recent decision the Orissa High Court ruled that expenditure towards contribution for running of school as business expenditure
By Kalyani B. Nair - On December 4, 2023 4:00 pm - 2 mins read
Orissa HC - Income Tax Appellate Tribunal - Business - TAXSCAN

The issue arose due to the disallowance of ₹ 2,84,34,453 by the AO which was incurred by the respondent in running of a school for the benefit of its employees as an incidental and additional business expenditure under Section 40A(9) of the Income Tax Act, 1961 read with Section 37(1) of the Income Tax Act,1961….

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