Loss incurred for any purpose which is an offence or which is prohibited by law is not deductible irrespective of…
Disallowance of Interest on TDS u/s 37(1) is outside the purview of Section 143(1). ITAT allows interest as business expenditure…
Harish Salve gets relief from ITAT. Funding education of Indian law students abroad allowed as business expenditure u/s 37(1) as…
Expenditure incurred by the assessee towards replacement of machinery with new machinery constitutes a capital expenditure. ABCAUS Case Law CitationABCAUS…
Tax paid in foreign country not eligible for benefit u/s 91 is expenditure eligible for deduction under section 37(1) of…
If business not closed down, expenses allowed u/s 37(1) even if turnover was low as it was temporary lull which…
Good Work Reward to employee held not constituting bonus u/s 36(1)(ii) and allowable as normal business expenditure u/s 37 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…