Monetary help to students to pursue law at Oxford is “expenditure incurred for profession” under Income Tax Act: ITAT allows Harish Salve’s claim

A Bench of Accountant Member RK Panda and Judicial Member Narasimha Chary relied upon an August 2019 order of the ITAT in a similar matter which had allowed such a claim.
Senior Advocate Harish Salve
Senior Advocate Harish Salve

The Income Tax Appellate Tribunal (ITAT) recently allowed Senior Counsel Harish Salve’s (assessee) claim to include monetary assistance rendered by him to students to pursue law degree abroad as expenditure incurred “exclusively for the purposes of the business or profession” under Section 37(1) of the Income Tax Act, 1961 (Harish Salve v. ACIT New Delhi).

Loading content, please wait...
Bar and Bench - Indian Legal news