94 results for “charitable trust”+ Section 249(2)clear
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The appeals stand disposed of
section 10(2)(xv) of the Income Tax Act. The High Court held that the expenditure was not of a capital nature and the assessee was entitled to deduct the amount claimed as business expenditure. Setting aside the decision of the High Court, the Supreme Court, inter alia, observed as under: “A trader may spend money to acquire