Loss incurred for any purpose which is an offence or which is prohibited by law is not deductible irrespective of…
Tax paid in foreign country not eligible for benefit u/s 91 is expenditure eligible for deduction under section 37(1) of…
Repairs to preserve and maintain already existing asset and to improve its longevity eligible eligible as current repairs ABCAUS Case…
Disallowance u/s 37(1) for pan masala seized deleted following SC decision that Explanation 1 apply to business expenses not to…
Disallowance u/s 37 for penalty/demurrage for late delivery of goods not for any offence prohibited by law but merely normal…
Allowability u/s 37(1) of fine /penalty for redemption of goods ordered to be confiscated for breach of import conditions –…
Kind of expenditure a legal professional can legitimately and justly claim is entirely different from basic expenditure a commercial entity…
ITAT explain the expression wholly and exclusively used in section 37. ‘Wholly” relates to quantification and “exclusively” refers to the…
Expenses on Business Management Course abroad for directors son held as not incurred wholly and exclusively for the purpose of…
Deduction for Penal excise was allowed u/s 37 as it was paid in discharging contractual obligation to indemnify department for…