DCIT v. ICICI Bank Ltd. (2025)210 ITD 643 (Mum) (Trib.)

S.37(1): Business expenditure-Club membership fees-Allowable as business expenditure.

Held that club membership fees paid  for its executives so that they could establish and maintain business contacts which was in long-term interest of assessee’s business, same is  allowed as business expenditure. (AY.  2006-07)

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