Payment of Sponsorship Fee paid to eligible Women for their Lifetime Achievements can’t be treated as Business Expenditure: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad bench has held that the payment of sponsorship fee paid to the eligible women for their lifetime achievements can’t be treated as business expenditure under section 37 of the Income Tax Act, 1961. The assessee paid a sponsorship fee amounting to Rs.17,30,400/- to eligible women for their lifetime […]
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