The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that these expenses incurred on legal, professional, travelling and boarding are allowable as business expenditure of the assessee. The assessee, Majestic Infracon Pvt. Ltd made huge investments of Rs.593/- Crores in Etisalat DB Telecom Pvt. Ltd. CBI has filed criminal cases against the…
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