"20 February 2013" Archive - Page 3

Expenditure on corporate membership of club is revenue expenditure

The Commissioner of Income Tax, Patiala Vs M/s Groz Beckert Asia Limited (Punjab And Hariyana High Court)

Expenditure should bring into existence an asset or an advantage for the enduring benefit of a trade. In the present case, the corporate membership of Rs.6 lacs was for a limited period of 5 years. ...

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