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ITAT: Drawings Made for Non-Business Purposes are Not Allowable as Income Tax Deduction - (13 Jun 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Visakhapatnam bench has held that drawings made for non-business purposes are not allowable as a deduction under section 36(1)(iii) of the Income Tax Act, 1961.

Tags : ITAT   DEDUCTIONS   INCOME-TAX  

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