![Madras HC Allows Deduction u/s 37 of Compensation Paid for Exchange Rate Fluctuation as Business Expenditure [Read Order]](https://images.taxscan.in/h-upload/2026/02/13/2125014-madras-hc-allows-deduction.webp "Madras HC Allows Deduction u/s 37 of Compensation Paid for Exchange Rate Fluctuation as Business Expenditure [Read Order]")
Madras HC Allows Deduction u/s 37 of Compensation Paid for Exchange Rate Fluctuation as Business Expenditure [Read Order]
The Madras High Court has held that compensation paid by an assessee to its agent for losses arising due to foreign exchange rate fluctuation, caused...
![ESOP Cost Rightly Allowed as Business Expenditure: ITAT Sets Aside PCIT Order against Nuvama Wealth after Finding Proper AO Inquiry [Read Order]](https://images.taxscan.in/h-upload/2025/11/07/2103033-esop-esop-cost-business-expenditure-itat-pcit-order-nuvama-wealth-taxscan.webp "ESOP Cost Rightly Allowed as Business Expenditure: ITAT Sets Aside PCIT Order against Nuvama Wealth after Finding Proper AO Inquiry [Read Order]")
![License Fee Paid for Use of ‘Remfry & Sagar’ Goodwill Not Barred by Law, Allowable as Business Expenditure: Delhi HC [Read Order]](https://images.taxscan.in/h-upload/2025/10/21/2098930-delhi-high-court-license-fee-paid-business-expenditure-taxscan.webp "License Fee Paid for Use of ‘Remfry & Sagar’ Goodwill Not Barred by Law, Allowable as Business Expenditure: Delhi HC [Read Order]")
![Income Tax Annual Digest 2024: ITAT Cases [Part 12]](https://www.taxscan.in/wp-content/uploads/2025/01/Income-Tax-Income-Tax-Annual-Digest-Income-Tax-Annual-Digest-2024-ITAT-ITAT-Cases-Annual-Digest-ITAT-Benches-of-India-CIT-National-Faceless-Appeal-Centre-NFAC-two-member-bench-Taxscan.jpg "Income Tax Annual Digest 2024: ITAT Cases [Part 12]")
Commission Paid for Works Obtained and Sub Contracted Allowable as Business Expenditure u/s 37: ITAT [Read Order]
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...
![Commission Paid for Works Obtained and Sub Contracted Allowable as Business Expenditure u/s 37: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Commission-Paid-for-Works-Business-Expenditure-Commission-Paid-for-Works-Obtained-and-Sub-Contracted-ITAT-taxscan.jpg "Commission Paid for Works Obtained and Sub Contracted Allowable as Business Expenditure u/s 37: ITAT [Read Order]")
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
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has instructed the Assessing Officer (AO) to restrict the disallowance percentages for aggregate expenditure, conveyance charges, office...
There cannot be Contradictory Course of Action as Revenue needs to be Consistent: Bombay HC rules Commission Payments Allowable as Business Expenditure [Read Order]
The Bombay High Court ruled that commission payments are allowable as business expenditure and commented that “There cannot be contradictory course of action as Revenue needs to be consistent”. ...
![There cannot be Contradictory Course of Action as Revenue needs to be Consistent: Bombay HC rules Commission Payments Allowable as Business Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Contradictory-Course-Action-Revenue-Consistent-Bombay-HC-Commission-Payments-Business-Expenditure-TAXSCAN.jpeg "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]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the unadjusted CENVAT credit left on the closure of the manufacturing unit which cannot be used further shall be allowable as...
![Unadjusted CENVAT Credit left on Closure of Manufacturing Unit which cant be used further shall be allowable as Business Expenditure u/s 37(1): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/CENVAT-Credit-Manufacturing-Unit-Business-Expenditure-ITAT-taxscan.jpg "Unadjusted CENVAT Credit left on Closure of Manufacturing Unit which cant 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
The Bombay High Court, while granting relief to the Indian Humes Pipe Co. Ltd. has observed that the test of applying the test of commercial expediency for determining whether an expenditure was...
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]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that the interest paid on delayed payments of Tax Deducted at Source (TDS) under Section 201(1A) of the Income Tax Act, 1961 is not...
![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]](https://www.taxscan.in/wp-content/uploads/2023/09/Interest-Paid-on-Delayed-Payment-of-TDS-Interest-Payment-of-TDS-TDS-Income-Tax-Act-Income-Tax-ITAT-Taxscan.jpg "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]")