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…
Expenditure incurred on discontinued business unless shown to be incurred for reviving it not allowable under section 37(1) - ITAT…
Loss by shop burglary arisen during the course of business allowed u/s 37(1) even when Insurance company assessed loss at…
Allowability u/s 37(1) of fine /penalty for redemption of goods ordered to be confiscated for breach of import conditions –…
Foreign education expenses of director allowed as business expenditure u/s 37(1) being incurred in furtherance of assessee’s business interest ABCAUS…
Penalty imposed by Supreme Court for illegal mining held compensatory in nature and allowed as business expenditure u/s 37(1) of…
Presumption that commission cannot be paid for purchase wrong. No evidence that commission came back to assessee or agents were…
Interest for late payment of service tax not penal in nature but only compensatory. ITAT deletes disallowance made under section…