The cost of paintings are meant for aesthetic purpose and for having better environment and accordingly to be construed as expenditure wholly and exclusively incurred for the purpose of business of the assessee herein
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has granted relief to Hindustan Times by allowing expenditure incurred on paintings, deeming it essential for creating a conducive business environment. The assessee during the year incurred expenditure of Rs 61,49,308/- towards paintings, which were meant for display in the office of the…
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