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AO couldn’t disallow part of expense if it was incurred wholly & exclusively for business purpose

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  • AO couldn’t disallow part of expense if it was incurred wholly & exclusively for business purpose
Posted onon September 24, 2018

Tenet Tax Daily September 24 2018

By tenettax-team
Corporate Tax

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ITAT remanded matter back to CIT(A) as he passed ex parte order without considering assessee’s objection
ITAT quashed AO’s order as ALP of royalty paid for use of brand couldn’t be determined as NIL

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