Brandishing Newspaper Cutting not Amounts to Sharing Commercial Expertise: Bombay HC [Read Order]

The court found that the AO was required to inquire, and for that purpose, the assessee is required to place on record the requisite material supporting its claim for deduction, based on which approval was procured from the CCIT
Bombay High Court - Income Tax - tax news - taxscan

The Bombay High Court has held that merely brandishing newspaper cuttings does not amount to proof of sharing commercial expertise. The court found that the Assessing Officer ( AO ) was required to inquire, and for that purpose, the assessee must place on record the requisite material supporting its claim for deduction, based on which…

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