Credit Card expenses of Director can not be claimed as deduction for expenses by Company : HC
The assessee has not adduced any evidence that drawings made by the Directors through their personal credit card are in fact, incurred for the purpose of business of the company. HIGH COURT OF KARNATAKA Swan Silk (P.) Ltd. v. Assistant Commissioner of Income-tax, Circle-12(3), Bengaluru ALOK ARADHE AND HEMANT CHANDANGOUDAR, JJ. IT APPEAL NO. 1033 OF 2017… Read More »