Disallowance of Expenses u/s 43B can’t be denied When Ex-gratia and Employee staff benefits are shown under Appropriation of fund: ITAT [Read Order]

Disallowance of Expenses - Ex-gratia and Employee staff benefits - Employee staff benefits - taxscan

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the disallowance of expenses under Section 43B of the Income Tax Act, 1961 cannot be denied when the ex-gratia and employee benefits are shown under the appropriation of funds. The assessee is a co-operative bank and is engaged in the banking business. The…

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