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Business Expenditure

Honorarium Paid to Chairman of Govt Company is Business Expenditure: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) in DCIT v. Garhwal Mandal Vikas Nigam Ltd, held that the honorarium paid to the Chairman...

Amount Paid for Higher Education of Directors’ Son not Business Expenditure: Bombay HC denies IT...

Consent Fee paid to SEBI for Non-Compliance of Guidelines is Business Expenditure: ITAT [Read Order]

Professional Charges for Processing Loan for Construction of Property from which Assessee Received...

Donations and Subscriptions Paid for Pujas and Functions are Business Expenditure: ITAT [Read Order]

Penalty paid to Stock Exchange is a regular Business Expenditure: ITAT allows Deduction [Read Order]

In an assessee-favor ruling, the Indore Bench of Income Tax Appellate Tribunal (ITAT) has held that penalty paid to stock exchange is a regular business expenditure. The issue before the division...

Salary Payments to Management Graduates are Business Expenditure: ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) in the case of M/s. Hinduja Group India Ltd. v. ACIT held that salary payments to management trainees cannot be disallowed since these are...

Provisions of Warranty Expenses deductible on Estimate basis: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) New Delhi, in Huawei Telecommunication (India) vs, ACIT expenditure on account of warranty expenses are the liability in the present which is liable to be...

Deduction available for Expenses incurred to conduct investigation as per SEBI directions as it was to protect Business Interest: ITAT [Read Order]

In the case of HDFC Trustee Company Ltd, Mumbai bench of Income Tax Appellate Tribunal (ITAT) recently held that expenses incurred according to the scheme of trust deed and Securities and Exchange...

Expenses incurred by Company for Advertising Achievement of its Managing Director is Business Expenditure: ITAT [Read Order]

While hearing the case of M/s MKJ Tradex Ltd, Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that advertisement expenses incurred for publishing the achievement of Managing...

Expenses related to the Fundamentals of Business can’t be Disallowed merely because it is not Vouched: ITAT [Read Order]

The ITAT, Lucknow bench in M/s Maheshwari Flour Mills vs. JCIT, has held that expenses related to the fundamentals of the assessee’s business cannot be disallowed merely n ground that they were not...

TDS is Payable on Payment of Non-Competent Fee when Assessee treated the same as Business Expenditure: ITAT [Read Order]

The Income Tax Appellate Tribunal Hyderabad bench recently ruled that TDS is payable on payment of Non-Competent Fee when Assessee treated the same as Business Expenditure. The Tribunal bench...

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