![Liquidated Damages paid for Non-Compliance of Business Obligations are allowable Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/01/Liquidated-Damages-Taxscan.jpg "Liquidated Damages paid for Non-Compliance of Business Obligations are allowable Expenditure: ITAT [Read Order]")
Liquidated Damages paid for Non-Compliance of Business Obligations are allowable Expenditure: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) has held that the liquidated damages paid in nature of contractual liability on account of non-compliance of...
![CSR Expenses Deductible from Total Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/04/CSR-Corporate-Social-Responsibility-Taxscan.jpg "CSR Expenses Deductible from Total Income: ITAT [Read Order]")
![Actor Akshaye Khanna gets IT Deduction for Expenditure on Speed-Boat [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/12/Akshaye-Khanna.jpg "Actor Akshaye Khanna gets IT Deduction for Expenditure on Speed-Boat [Read Order]")
![Transaction Charges paid to National Multi Commodity Exchange of India is Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/11/Transaction-Charges-ITAT-Taxscan.jpg "Transaction Charges paid to National Multi Commodity Exchange of India is Business Expenditure: ITAT [Read Order]")
![Medical Insurance Premium paid for Family Members of Employees is Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/04/Medical-Allowance-Taxscan.jpg "Medical Insurance Premium paid for Family Members of Employees is Business Expenditure: ITAT [Read Order]")
ITAT disallows claim for Business Expenditure since Items distributed are more of a Personalized in Nature [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Delhi bench has held that the claim for business expenditure cannot be allowed because the items distributed are more of a personalized in nature. The...
![ITAT disallows claim for Business Expenditure since Items distributed are more of a Personalized in Nature [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Professional-Fee-Business-Expenditure-Taxscan.jpg "ITAT disallows claim for Business Expenditure since Items distributed are more of a Personalized in Nature [Read Order]")
![Exhibition Expenses can be allowed in the year in which It was Incurred: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/08/Exhibition-Expenses-Taxscan.jpg "Exhibition Expenses can be allowed in the year in which It was Incurred: ITAT [Read Order]")
Cash Purchase of Land would not violate S. 40A(3) in the Absence of Claim for Business Expenditure: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the Revenue cannot disallow the payment of cash for land purchase by assessee by invoking Section 40A(3) of the Income...
![Cash Purchase of Land would not violate S. 40A(3) in the Absence of Claim for Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/08/Cash-Purchase-Taxscan.jpg "Cash Purchase of Land would not violate S. 40A(3) in the Absence of Claim for Business Expenditure: ITAT [Read Order]")
Expense Incurred by Royal Challengers for construction of Cricket Academy is Deductible from Income: ITAT [Read Order]
In a major relief to the IPL cricket team, Royal Challengers, Bangalore, the Income Tax Appellate Tribunal (ITAT) has held that the expenses incurred by the Company, for construction of Cricket...
![Expense Incurred by Royal Challengers for construction of Cricket Academy is Deductible from Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Royal-Challengers-Taxscan.jpg "Expense Incurred by Royal Challengers for construction of Cricket Academy is Deductible from Income: ITAT [Read Order]")
Gift to Customers not Deductible as Business Expenditure since Its Nature and Identity of Recipients was not Disclosed: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has observed that gift to the customers cannot be treated as Business expenditure for granting income tax deduction since the assessee failed to...
![Gift to Customers not Deductible as Business Expenditure since Its Nature and Identity of Recipients was not Disclosed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Business-Expenditure-Taxscan.jpg "Gift to Customers not Deductible as Business Expenditure since Its Nature and Identity of Recipients was not Disclosed: ITAT [Read Order]")
![Honorarium Paid to Chairman of Govt Company is Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Honorarium-Taxscan.jpg "Honorarium Paid to Chairman of Govt Company is Business Expenditure: ITAT [Read Order]")