ITAT directs AO to Disallow Asian Paints’ Consulting Fee to Paid for Feasibility Study Report Extent Only for Home Improvement and Decor Business Expenditure [Read Order]

ITAT directed AO to restrict disallowance only to extent of expenditure pertaining to home improvement and decor business
ITAT Mumbai - Income tax - feasibility study - feasibility study report - feasibility study report extent time - TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has directed the Assessing Officer to disallow Asian Paints’ consulting fee paid for a feasibility study report, to the extent that it pertains only to home improvement and decor business expenditure. The Asian Paints Ltd Paid an amount of Rs.1,74, 0,000 to M/s…

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