Membership fee & legal fund paid to FIMI allowable as Business Expense to Mining Company

Zeenath Transport Company Vs ACIT (ITAT Bangalore) The assessee during the year made payment of Rs.10 lakhs and 20 lakhs towards membership fee and legal fund respectively to Federation of Indian Mineral Industries. The federation of Indian Mineral Industries is an association of industries i.e engaged in the business of minerals and is a non profit corporate body registered under the Companies Act 1956 to promote the interest of the mining and mineral processing, metal making and other mineral based industries and to attend to the problems faced by them in lease grants, tenure, production, ta...