Tax Authorities cannot step into shoes of businessmen to determine business purpose expenditure

Serco India Pvt. Ltd. Vs ACIT (ITAT Delhi) Conclusion: Income tax authorities could not step into the shoes of businessmen to determine how much expenditure should have been incurred for the purpose of business.  as an organization incurred both operating expenses as well as non-operating expenses for running the business and there were certain expenses which were not allocable to a particular activity. Held: Assessee-company was a subsidiary of Serco Group PLC, UK and was established as a captive service center with an objective to provide IT and IT enabled services to Serco Group. It filed ...