Disallowance of Liability Towards Expenditure on Discontinuance of Seven Clinics of ‘Kaya Skin’: ITAT [Read Order]

Disallowance of Liability - Expenditure - Seven Clinics of Kaya Skin - ITAT - taxscan

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT), disallowed the claim of liability towards expenditure on discontinuance of seven clinics of  ‘Kaya skin’ and held that mere passing of the Board Resolution would not create a liability unless the Board Resolution is put into action. The assessee in this case is Kaya Ltd. ,…

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