Test of Commercial Expediency for determining Business Expenditure shall be applied from point of Business Man, not Revenue: Bombay HC grants Relief to Indian Hume Pipe

Test of Commercial Expediency for determining Business Expenditure shall be applied from point of Business Man - Revenue - Bombay HC grants Relief - Indian Hume Pipe - TAXSCAN

The Bombay High Court, while granting relief to the Indian Humes Pipe Co. Ltd. has observed that the test of applying the test of commercial expediency for determining whether an expenditure was wholly and exclusively laid out for the purpose of the business, reasonableness of the expenditure has to be adjudged from the businessman’s point…

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