ITAT: Drawings Made for Non-Business Purposes are Not Allowable as Income Tax Deduction - 13.06.2022

Income Tax Appellate Tribunal (ITAT), Visakhapatnam bench has held that drawings made for non-business purposes are not allowable as a deduction under section 36(1)(iii) of the Income Tax Act, 1961.

Tags : ITAT Deductions Income-Tax

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