![No Disallowance to Chargeable sum paid to Foreign Company without Deduction of Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Disallowance-to-Chargeable-sum-Foreign-Company-Deduction-of-Tax-ITAT-Taxscan.jpg "No Disallowance to Chargeable sum paid to Foreign Company without Deduction of Tax: ITAT [Read Order]")
No Disallowance to Chargeable sum paid to Foreign Company without Deduction of Tax: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that disallowance shall not be made to a chargeable sum paid to a foreign...
![Interest Paid on Borrowing by Assessee carrying out Business in Investing in Shares Allowable as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Interest-Paid-Interest-Borrowing-Business-Investing-in-Shares-Business-Expenditure-ITAT-Income-Tax-Tax-Taxscan.jpg "Interest Paid on Borrowing by Assessee carrying out Business in Investing in Shares Allowable as Business Expenditure: ITAT [Read Order]")
![Ceremonial Expenses performed as part of Tradition shall be Allowable as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Ceremonial-Expenses-Tradition-Allowable-Business-Expenditure-Business-Expenditure-ITAT-Taxscan.jpg "Ceremonial Expenses performed as part of Tradition shall be Allowable as Business Expenditure: ITAT [Read Order]")
![Road Construction Expenses Incurred to provide Easy and Smooth Access from Highway to Factory Allowable as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Road-Construction-Expenses-Road-Construction-Business-Expenditure-ITAT-Income-Tax-Highway-Factory-taxscan-.jpg "Road Construction Expenses Incurred to provide Easy and Smooth Access from Highway to Factory Allowable as Business Expenditure: ITAT [Read Order]")
![Generation of Business Income Not Necessary to Claim Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Generation-of-Business-Income-Business-Income-Business-Expenditure-ITAT-taxscan.jpg "Generation of Business Income Not Necessary to Claim Business Expenditure: ITAT [Read Order]")
Premium paid by Company towards Life Insurance Policy of Director in Individual Capacity Not “Business Expenditure”: ITAT [Read Order]
Income Tax Appellate Tribunal ( ITAT ) Pune Bench ruled that the premium paid by the company towards the Life Insurance Policy of the Director in individual capacity is not Business Expenditure. ...
![Premium paid by Company towards Life Insurance Policy of Director in Individual Capacity Not “Business Expenditure”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Premium-paid-Premium-Life-Insurance-Policy-Life-Insurance-Business-Expenditure-ITAT-Income-Tax-Tax-taxscan.jpg "Premium paid by Company towards Life Insurance Policy of Director in Individual Capacity Not “Business Expenditure”: ITAT [Read Order]")
Provision for Warranty Expenses is ascertained liability, allowable as Business Expenditure: ITAT [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the provision for Warranty Expenses is ascertained liability and is allow able as business expenditure. M/s.Trivitron...
![Provision for Warranty Expenses is ascertained liability, allowable as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Provision-for-Warranty-Expenses-is-ascertained-liability-allowable-as-Business-Expenditure-ITAT-TAXSCAN.jpg "Provision for Warranty Expenses is ascertained liability, allowable as Business Expenditure: ITAT [Read Order]")
![Professional Fee paid to EY Deductible as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Professional-Fee-EY-Business-Expenditure-ITAT-taxscan.jpg "Professional Fee paid to EY Deductible as Business Expenditure: ITAT [Read Order]")
Interest on Loans obtained for Own Business Purposes Constitutes Business Expenditure, Deduction Allowable: ITAT [Read Order]
The Income Tax Appellate Tribunal ‘A’ bench, Chennai, has recently, in an appeal filed before it, held that interest on loans obtained for own business purposes constitutes business expenditure and...
![Interest on Loans obtained for Own Business Purposes Constitutes Business Expenditure, Deduction Allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Interest-Loans-Business-Business-Expenditure-Deduction-Allowable-ITAT-TAXSCAN.jpg "Interest on Loans obtained for Own Business Purposes Constitutes Business Expenditure, Deduction Allowable: ITAT [Read Order]")
Educational Expenses of Daughter of Assessee not to be Considered as Incurred for Purpose of Business by Assessee’s firm: ITAT denies Claim [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal(ITAT), in a recent ruling in favour of the Revenue has held that, the educational expenses incurred for the daughter of the assessee’s firm...
![Educational Expenses of Daughter of Assessee not to be Considered as Incurred for Purpose of Business by Assessee’s firm: ITAT denies Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Educational-Expenses-of-Daughter-Purpose-of-Business-Assessees-firm-ITAT.jpg "Educational Expenses of Daughter of Assessee not to be Considered as Incurred for Purpose of Business by Assessee’s firm: ITAT denies Claim [Read Order]")
Claim of Deduction on Compensation Paid for Settlement of Encroachment on Property not allowable as Business Expenditure without Evidence: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) New Delhi held that the claim of deduction basedoncompensation paid for settlement of encroachment on the property is not allowable as business expenditure in...
![Claim of Deduction on Compensation Paid for Settlement of Encroachment on Property not allowable as Business Expenditure without Evidence: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Claim-of-Deduction-Compensation-Settlement-Encroachment-Property-Business-Expenditure-ITAT-TAXSCAN.jpeg "Claim of Deduction on Compensation Paid for Settlement of Encroachment on Property not allowable as Business Expenditure without Evidence: ITAT [Read Order]")
Foreign Travel Expenses to secure Capital Investment cannot be allowed as Business Expenditure: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the foreign travel expenses relating to secure the capital investment in the business cannot be allowed as expenditure for the...
![Foreign Travel Expenses to secure Capital Investment cannot be allowed as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Foreign-Travel-Expenses-Capital-Investment-Business-Expenditure-ITAT-taxscan.jpg "Foreign Travel Expenses to secure Capital Investment cannot be allowed as Business Expenditure: ITAT [Read Order]")