Case Law Details
Court : Mumbai Income Tax Appellate Tribunal
Citation: Accenture Services Pvt. Ltd. [2010-TIOL¬409-ITAT-MUM]
Brief : On the issue of deductibility of certain business expenditure incurred by the Taxpayer, under the provisions of the Indian Tax Laws (ITL), The ITAT allowed the deduction of the expenditure which was found to be inextricably linked to and expended for the purpose of the Taxpayer’s business.
Background and facts of the case
Under the ITL, an expenditure, which is expended wholly and exclusively for the purpose of the business of a taxpayer and which is not capital or personal in nature, will be allowed as a deduction against the taxable profits of the taxpayer.
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sir
i want to know whole information relating to MICR charges like for which purpose these charges paid and how much TDS deduct on it . who manage the MICR services , and is there any amendment regarding the MICR charges?