disallowance u/s 37(1) Archives

Tax paid in foreign country is expenditure eligible for deduction u/s 37(1) of Income Tax Act – ITAT

administrator March 13, 2020 Income Tax, ITAT

Tax paid in foreign country not eligible for benefit u/s 91 is expenditure eligible for deduction under section 37(1) of the Act – ITAT ABCAUS Case Law CitationABCAUS 3289 (2020) (03) ITAT Important case law relied upon by the parties:Reliance Infrastructure Ltd versus CIT 390 ITR 271Hindustan Construction …

If business not closed down, expenditure allowed u/s 37(1) even if turnover is low

administrator August 12, 2019 Income Tax, ITAT

If business not closed down, expenses allowed u/s 37(1) even if turnover was low as it was temporary lull which assessee was trying to revive – ITAT ABCAUS Case Law Citation:ABCAUS 3113 (2019) (08) ITAT The instant appeal had been filed by the assessee against impugned order passed …

Good Work Reward to employee held not constituting bonus u/s 36(1)(ii) and allowable u/s 37

administrator July 24, 2019 Income Tax, ITAT

Good Work Reward to employee held not constituting bonus u/s 36(1)(ii) and allowable as normal business expenditure u/s 37 of the Act. ABCAUS Case Law Citation:ABCAUS 3078 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:Shriram Pistons & Rings Ltd. Vs. Commissioner of Income Tax, (2008) …

Repairs to preserve and maintain already existing asset eligible u/s 37(1) as revenue expenditure

administrator June 16, 2019 Income Tax, ITAT

Repairs to preserve and maintain already existing asset and to improve its longevity eligible eligible as current repairs ABCAUS Case Law Citation: ABCAUS 3015 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. M/s MAC Charles (India) Ltd. CIT vs. TS Tech Sun India …

Disallowance u/s 37(1) for pan masala seized deleted following Supreme Court decision

administrator May 31, 2019 Income Tax, ITAT

Disallowance u/s 37(1) for pan masala seized deleted following SC decision that Explanation 1 apply to business expenses not to business losses ABCAUS Case Law Citation: ABCAUS 2979 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: T.A. Quereshi Vs. CIT (2006) 286 ITR 547 The …

Disallowance u/s 37 for penalty/demurrage for late delivery of goods

administrator May 14, 2019 Income Tax, ITAT

Disallowance u/s 37 for penalty/demurrage for late delivery of goods not for any offence prohibited by law but merely normal business expenditure – ITAT ABCAUS Case Law Citation: ABCAUS 2924 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Mahalakshmi Sugar Mills Co. Ltd. vs. CIT …

Expenditure incurred on discontinued business unless shown to be for reviving, not allowable – ITAT

administrator May 3, 2019 Income Tax, ITAT

Expenditure incurred on discontinued business unless shown to be incurred for reviving it not allowable under section 37(1) – ITAT ABCAUS Case Law Citation: ABCAUS 2901 (2019) (05) ITAT The sole issue raised by the assessee was the maintainability of the disallowance of expenditure incurred for maintenance …

Loss by shop burglary arisen during the course of business allowable u/s 37(1) – ITAT

administrator April 3, 2019 Income Tax, ITAT

Loss by shop burglary arisen during the course of business allowed u/s 37(1) even when Insurance company assessed loss at lower amount – ITAT ABCAUS Case Law Citation: ABCAUS 2859 (2019) (04) ITAT This appeal was filed by the assessee against the order of Commissioner of Income Tax …

Allowability of penalty for redemption of confiscated goods violating import conditions – HC explains Law

administrator February 26, 2019 High Courts, Income Tax

Allowability u/s 37(1) of fine /penalty for redemption of goods ordered to be confiscated for breach of import conditions – High Court explains the Law ABCAUS Case Law Citation:ABCAUS 2801 (2019) (02) HC Important Case Laws Cited/relied upon by the parties CIT V/s. Ahmedabad Cotton Mfg. Co Ltd. …

Foreign education expenses of director allowed as business expenditure u/s 37(1)

administrator November 21, 2018 Income Tax, ITAT

Foreign education expenses of director allowed as business expenditure u/s 37(1) being incurred in furtherance of assessee’s business interest ABCAUS Case Law Citation: ABCAUS 2641 (2018) (11) ITAT The appeal was filed by the assessee against the order of the Commissioner of Income Tax (Appeals) in inter alia …

Tag: disallowance u/s 37(1)