Consultancy charges Incurred for making investment are allowable

Pr. CIT Vs. Sintex Industries Ltd. (Gujarat High Court) When the assessee incurred expenses towards consultancy charges in order to make investment, the assessing officer was not justified in treating and considering the expenses incurred towards consultancy charges as capital expenditure, dis allowable under section 37 of the Act. No Disallowance under section 14A  of Expenditure against exempt income if Assessee has own interest free funds Since assessee was already having its own surplus fund, there was no question of making any dis allowance of expenditure in respect of interest and adm...