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Case Law Details

Case Name :  Swiss Re Services India Pvt Ltd Vs DCIT (Bombay High Court)
Related Assessment Year :
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Swiss Re Services India Pvt Ltd Vs DCIT (Bombay High Court)

Conclusion: Admission fees paid to a club towards corporate membership would be a revenue expenditure because it had been incurred wholly and exclusively for the purposes of business and not towards capital account. Such expenditure only facilitated the smooth and efficient running of the business enterprise and did not add to the profit earning apparatus of the business enterprise.

Held: Assessee

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