Tuesday, April 28, 2015

Expenses to satisfy Decree : Allowable Business Expenses

[2015] 56 taxmann.com 8 (Karnataka)
HIGH COURT OF KARNATAKA
Commissioner of Income-tax, Bangalore
v.

Hitachi Koki India Ltd.
Payment by assessee to satisfy decree passed by High Court against it in order to protect its property and name is allowable as business expenditure

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