Money spent by Harish Salve on scholarships for students allowable u/s 37(1) of Income Tax Act: ITATAugust 13 2019
The Income Tax Appellate Tribunal (ITAT) has held that the sum of money paid by Senior Advocate Harish Salve towards scholarships of two students at Oxford University is to be treated as revenue expenditure for the purposes of Section 37(1) of the Income Tax Act.
In an order dated February 23, 2016, the Commissioner of Income Tax had held that the money spent by Harish Salve - amounting to Rs. 28,45,372 - towards scholarships for two Indian students at Exeter College, Oxford . . .
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