Expense allowable if essential for maintenance of company even if no business was carried

DCIT Vs NCR Business Park Pvt. Ltd. (ITAT Delhi) This bench is of considered view that there are two kinds of provisions under the Act, one in respect of what is allowable and other in respect of what is not allowable, i.e., they override the provisions. The overriding provisions should first be applied and then only one can decide the allowability of expenditure. If any expenditure is not allowable due to any provisions, then that expenditure is not allowable. These are specific and general provisions which do not allow the expenditures. Expenditure means a cost relating to the operations of ...