Fee paid to holding company for advisory service during course of business is allowable as deduction u/s 37 of Income Tax Act: ITAT upholds DRP decision [Read Order]

By Aparna. M - On September 12, 2023 2:30 pm - 2 mins read
Fee paid to holding company - Advisory service during course of business - deduction - Income Tax Act - ITAT upholds DRP decision - taxscan

The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that fees paid to the holding company for advisory services during the course of business is allowed as the deduction under Section 37 of the Income Tax Act, 1961. Therefore the bench upheld the decision of the Dispute Resolution Panel (DRP). Assessee, Rabo India Finance Ltd…

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