U/S. S.37 (1) : Business expenditure – Professional’s heart surgery expense not deductible. (s.31)
Money Mantan November 5, 2011
Comments (19)

U/S. S.37 (1) : Business expenditure – Professional’s heart surgery expense not deductible. (s.31)

Description: Expenditure  incurred on heart operation was not deductible. Under section 31 also 37 (1) because of following reasons: Heart cannot be considered plant as it did not have any mention in assessee’s balance  sheet under assets and its cost of  acquisition could not be determined. Deduction under section 37 (1) cannot be granted as […]

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U/S. S.37 (1) : Business expenditure – Professional’s heart surgery expense not deductible. (s.31)
Money Mantan October 17, 2011
Comments (22)

U/S. S.37 (1) : Business expenditure – Professional’s heart surgery expense not deductible. (s.31)

Description: Expenditure incurred on heart operation was not deductible. Under section 31 also 37 (1) because of following reasons: Heart cannot be considered plant as it did not have any mention in assessee’s balance  sheet under assets and its cost of  acquisition could not be determined. Deduction under section 37 (1) cannot be granted as […]

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