In India, the government provides several tax deductions to companies in order to boost business growth. However, they are applicable for a specific list of expenses which are stated under Section 37 of Income Tax

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) held that the interest paid on delayed TDS payment is allowable as a deduction. ShriRamaKantaPanda, accountant member &Shri K Narasimha Chary, judicial member  The assessee,M/s.

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) has held that the expenditure towards “Erroneous disallowance of Payment of Employee Stock Option Plan (ESOP) would be eligible for deduction under Section 37 of the

Recently, while allowing expenditure on account of Interest & administrative expenses incurred by the assessee in connection with their project, the ITAT Mumbai bench held that such expenses are allowable as deduction under section 37(1)

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, reduced the disallowance from 10% to 2%, on finding that operating expenses is unverified and excessive and hence not

In a recent ruling, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that commission paid for works obtained and works sub contracted is allowable as business expenditure under Section 37

The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that guarantee fees paid to the holding company for loan advanced by assessee company to third party is business expediency. Therefore the bench allowed the deduction

The Bombay High Court recently ruled that ex gratia bonuses provided to employees, exceeding the eligible bonus under the Payment of Bonus Act, qualify as permissible business expenditures. The bench, comprising Justices K. R. Shriram

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), ruled that Income from compensation of land acquisition under Section 96 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that freebies to medical practitioners are prohibited by law and deduction under section 37(1) of the Income Tax Act,1961 is not allowable. Fourrts

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has recently held that expenses incurred for import of rubber process oil is eligible for deduction under Section 37(1) of the Income Tax Act, 1961.

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that Club entrance fees paid by Vodafone Idea Ltd ( Vi )amount to revenue expenditure u/s.37(1) of the Income Tax Act,1961.

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) directed re-adjudication for the rejection of a claim of expenditure incurred for club members on the ground of non-business expenses.  New Globe Logistik Pvt. Ltd,

ESOP expenses are not allowable when the shares/ ESOP are granted by the Parent company the Delhi Bench of, the Income Tax Appellate Tribunal (ITAT) held that can’t allow without factual verification and restored the

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that advertisement expenses incurred for personal purposes are not allowable as a deduction under section 37(1) of the Income Tax Act,1961. Dr Keyur