Tribunal held that ; service charges paid to SRSR Advisory Services Pvt Ltd for advisory services in assessee business area, accounting services, collection of interest and dividend, taxation, ROC related matters and maintenance of its land properties etc. is held to be allowable as business expenditure . ( 2005 -06)
Fincity Investments (P.) Ltd. v. ACIT (2018) 172 ITD 204/ 172 DTR 396 (Hyd) (Trib.) Veeyes Investments ( P) Ltd v. ACIT ( 2018) 172 ITD 218 /( 2019) 197 TTJ 261/ 175 DTR 109(Hyd) (Trib)
S.37(1):Business expenditure- Service charges paid to SRSR Advisory Services Pvt Ltd for advisory services in assessee business area, accounting services, collection of interest and dividend, taxation, ROC related matters and maintenance of its land properties etc.- Allowable as business expenditure .