Held that expenses in nature of staff salary, depreciation on building, vehicle running and maintenance and audit fees. Assessee not earning any business income But having to incur certain minimum expenditure to maintain corporate entity. Assessing Officer is directed to allow 25 Per Cent. of expenditure. (AY.2014-15)
Alpha Reality v. Asst. CIT (2023)108 ITR 7 (SN)(Chennai) (Trib)
S. 37(1) : Business expenditure-Salary, depreciation, audit fees-Not earning any income-Expenditure to maintain corporate entity-Directed to allow 25 Per Cent. of expenditure.