Legal and Professional Expenses incurred to Defend Criminal Charges against Directors of Company allowable as Business Expenses: ITAT [Read Order]

By Taxscan Team - On May 6, 2022 3:42 pm - 2 mins read
Legal and Professional Expenses - Defend Criminal Charges - Directors Company - allowable - Business Expenses - ITAT - Taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that these expenses incurred on legal, professional, travelling and boarding are allowable as business expenditure of the assessee. The assessee, Majestic Infracon Pvt. Ltd made huge investments of Rs.593/- Crores in Etisalat DB Telecom Pvt. Ltd. CBI has filed criminal cases against the…

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