The computation of business and professional income in India involves a delicate balance between statutory provisions, commercial realities, and judicial interpretations. Section 37 of the […]
Section 37
A Critical Evaluation of Section 37 of the Income Tax Act, 1961
Section 37 of the Income Tax Act, 1961 serves as a residuary provision under the head “Profits and Gains of Business or Profession” (PGBP). It […]
A Comprehensive Review of Section 37 of the Income Tax Act, 1961
Section 37 of the Income Tax Act, 1961 serves as a residuary provision for allowing deductions that do not fall under Sections 30 to 36. […]