Non-production of complete Bills and Vouchers: ITAT directs AO to limit Disallowance Percentages for Aggregate Expenditure, Conveyance Charges, office Maintenance, Sunday and Business Promotion Expenses

Expenditure towards Contribution for Running of School as Business Expenditure: Orissa HC [Read Order]

There cannot be Contradictory Course of Action as Revenue needs to be Consistent: Bombay HC rules Commission Payments Allowable as Business Expenditure [Read Order]

Unadjusted CENVAT Credit left on Closure of Manufacturing Unit which can’t be used further shall be allowable as Business Expenditure u/s 37(1): ITAT [Read Order]

Test of Commercial Expediency for determining Business Expenditure shall be applied from point of Business Man, not Revenue: Bombay HC grants Relief to Indian Hume Pipe

Interest Paid on Delayed Payment of TDS u/s 201(1A) of Income Tax Act is not Eligible for Allowance as Business Expenditure: ITAT [Read Order]