Professional Fees paid to Advocate for drafting Share Purchase Agreement is Revenue Expenditure : ITAT [Read Order]

Professional Fees - Advocate - Share Purchase Agreement - Revenue Expenditure - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Delhi bench, has ruled that professional fees paid to an advocate for drafting a share purchase agreement to facilitate the acquisition of shares are considered revenue expenditure. SSP Pvt. Ltd, engaged in the business of manufacturing engineering goods, paid fees of Rs 2,01,000/- to an advocate during the relevant…

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