The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that when a company purchases flat for providing accommodation facility to its Managing Director, the tax benefits shall not be denied to it since the activity is a business necessity. The Tribunal also deleted the order of the Assessing officer wherein the Officer […]
The post Flat purchased for providing Residential Accommodation to Managing Director is a Business Necessity: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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