![Excess of Income over Expenditure in the Hands of Company is Taxable: Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/04/Deductions-Supreme-Court-of-India-Taxscan.jpg "Excess of Income over Expenditure in the Hands of Company is Taxable: Supreme Court [Read Judgment]")
Excess of Income over Expenditure in the Hands of Company is Taxable: Supreme Court [Read Judgment]
The Supreme court of India held that excess of income over expenditure in the hands of a company is taxable. The assessee, Yum! Restaurants...
![Reimbursement of Property Tax to Landlord under Contract is an Allowable Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/12/Reimbursements-ITAT-Taxscan.jpg "Reimbursement of Property Tax to Landlord under Contract is an Allowable Expenditure: ITAT [Read Order]")
![ITAT allows Deduction on Legal and Professional Fees incurred to improve day to day working of Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/ITAT-Legal-Deduction-Legal-Professsional-Fees-Taxscan.jpg "ITAT allows Deduction on Legal and Professional Fees incurred to improve day to day working of Company [Read Order]")
![Developer cannot claim Deduction on Expenses incurred on Land if Bills were generated after It’s Transfer: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Deduction-land-Developer-Expenses-ITAT-Taxscan.jpg "Developer cannot claim Deduction on Expenses incurred on Land if Bills were generated after It’s Transfer: ITAT [Read Order]")
![Activity of Advertisement and Sale Promotion is post Import Activity, Importer not obliged to pay any amount on such Expenditure: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Advertisement-Sale-Promotion-Li-Ning-CESTAT-Taxscan.jpg "Activity of Advertisement and Sale Promotion is post Import Activity, Importer not obliged to pay any amount on such Expenditure: CESTAT [Read Order]")
![Charitable Trust is not eligible for Standard Deduction for Rental Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Charitable-Rental-Income-Taxscan.jpg "Charitable Trust is not eligible for Standard Deduction for Rental Income: ITAT [Read Order]")
![Lawyer Fee can be deducted from Taxable Income: Gujarat High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/01/Lawyer-Fee-Taxable-Income-Expenditure-Gujarat-High-Court-Taxscan.jpg "Lawyer Fee can be deducted from Taxable Income: Gujarat High Court [Read Order]")
No Disallowance of Expenditure for Non-Deduction of Tax on Services and Payments Made Outside of India: ITAT [Read Order]
The Jaipur bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that, No Disallowance of Expenditure for Non-Deduction of Tax on Services and Payments Made Outside of India. The ITAT has...
![No Disallowance of Expenditure for Non-Deduction of Tax on Services and Payments Made Outside of India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Expenditure-Taxscan.jpg "No Disallowance of Expenditure for Non-Deduction of Tax on Services and Payments Made Outside of India: ITAT [Read Order]")
Mere Entries in the Books of Accounts does not establish Genuineness of Expenditure: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that mere entries in the books of accounts do not establish the genuineness of the expenditure. The appellant is an individual engaged...
![Mere Entries in the Books of Accounts does not establish Genuineness of Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Professional-Fee-Business-Expenditure-Taxscan.jpg "Mere Entries in the Books of Accounts does not establish Genuineness of Expenditure: ITAT [Read Order]")
Mere Suspicion that Expenditure is for Non-Business purposes can’t be Ground for Addition: ITAT [Read Order]
The Jaipur bench of the Income Tax Appellate Tribunal ( ITAT ) has held that addition cannot made merely on the ground that the expenditure is for non-business purposes. During the assessment...
Relief to Nokia: Delhi HC allows Expenditure on Mobile Phones distributed to Employees, Dealers and Sales Personnels [Read Judgment]
In a major relief to Nokia, the Delhi High Court has held that the company is eligible to get the deduction in respect of the cost incurred on distributing mobile phones to its employees, dealers and...
![Relief to Nokia: Delhi HC allows Expenditure on Mobile Phones distributed to Employees, Dealers and Sales Personnels [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/09/Nokia-Taxscan.jpg "Relief to Nokia: Delhi HC allows Expenditure on Mobile Phones distributed to Employees, Dealers and Sales Personnels [Read Judgment]")
Expenditure on Interest-bearing Loans acquired for making Investment in Agricultural Land not allowable as Deduction: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Cochin bench has held that the deduction cannot be allowed in respect of interest-bearing funds utilized by the assessee-company for acquiring agricultural...
![Expenditure on Interest-bearing Loans acquired for making Investment in Agricultural Land not allowable as Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Agricultural-Land.jpg "Expenditure on Interest-bearing Loans acquired for making Investment in Agricultural Land not allowable as Deduction: ITAT [Read Order]")