Held that legal expensed incurred by the assessee as a chairman to protect his voting rights in the company following a dispute regarding the structure of the Board of directors of the company are allowable as business expenditure. (AY. 2007-08, 2010-11)
Amritlal Batra v. Add. CIT(2023) 226 TTJ 917/ (2024) 110 ITR 127/ 160 taxmann.com 236 (Amritsar)(Trib)
S. 37(1) : Business expenditure-Legal expenses to protect the voting rights in the company-Chairman of the company-Allowable as business expenditure.