Exp. incurred prior to obtaining IRDA licence to conduct insurance business is allowable as business exp.: Delhi HC

INCOME TAX : Where assessee prior to obtaining IRDA license to conduct insurance business had acquired necessary wherewithal and physical infrastructure for carrying on its business and was only waiting for approval of its application for commencement, expenditure incurred between setting up and commencement of business was to be allowed as business expenditureINCOME TAX : Where assessee prior to obtaining IRDA license to conduct insurance business had acquired necessary wherewithal and physical infrastructure for carrying on its business and was only waiting for approval of its application for commencement, expenditure incurred between setting up and commencement of business was to be allowed as business expenditurewww.taxmann.com Latest Case LawsRead More

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