Project Expenses Incurred Wholly for Business Are Deductible Under Section 37(1) Absent Corresponding Income
Project Expenses Incurred Wholly for Business Are Deductible Under Section 37(1) Absent Corresponding Income Issue Whether project expenses incurred wholly and exclusively for business purposes can be disallowed under Section 37(1) solely because no corresponding income was recognized or booked against those projects in the relevant assessment year. Facts The assessee is a company engaged… Read More »