Provisions of S.40 cannot be invoked where the income is to be computed U/s.42 of the Act

RELEVANT PARAGRAPH

10.     Rival submissions of the parties have been considered carefully in the light of the materials and the case laws referred to. The question for our consideration is whether the assessee is entitled to deduction in respect of payment made by the assessee to its parent company by way of reimbursement of expenses incurred by the. parent company in connection with the activities carried on by the assessee. The claim of the assessee has b

Please become a Premium member. If you are already a Premium member, login here to access the full content.