Exp. incurred by MD in personal capacity couldn’t be held as exp. incurred wholly amp; exclusively for business

INCOME TAX : Where assessee-company claimed expenditure incurred by its managing director in his individual capacity as Honorary counsel of Embassy of Ireland for organising an event to celebrate Ireland National day in India, since said expenditure was not incurred for purpose of business of assessee, same was to be disallowedINCOME TAX : Where assessee-company claimed expenditure incurred by its managing director in his individual capacity as Honorary counsel of Embassy of Ireland for organising an event to celebrate Ireland National day in India, since said expenditure was not incurred for purpose of business of assessee, same was to be disallowedwww.taxmann.com Latest Case LawsRead More

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