ITAT directs to Delete Disallowance of Expenditure incurred towards Exempt Income based on Book Profits [Read Order]

ITAT directs to Delete Disallowance - Expenditure incurred towards - Exempt Income based on Book Profits - ITAT - TAXSCAN

The Income Tax Appellate Tribunal, Chennai Bench, has recently, in an appeal filed before it, directed to delete the disallowance of expenditure incurred towards except income based on book profits. The aforesaid observation was made by the Chennai ITAT, when an appeal was preferred before it by the assessee, directed against the final assessment order…

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