Providing scholarships to students in foreign university is a business expenditure

Harish N. Salve Vs ACIT (ITAT Delhi) Conclusion: In present facts of the case, the Hon’ble Tribunal held that providing scholarships to students in foreign university is a business expenditure. Facts: Assessee is an Advocate by profession and is stated to derive income from Business, Capital Gain and Other Sources. Assessee filed his return of income for A.Y. 2015-16 on 30.09.2015 declaring total income of Rs. 93,05,67,910/-. Thereafter assessee filed revised return of income on 31.03.2017 revising the total income of Rs.93,40,35,870/-. The case was selected for scrutiny and thereafter asses...