Bombay HC rules CBDT Circular disallowing Expenses associated with Doctor Freebies, not applicable to AY 2008-09 [Read Order]
In a major ruling the Bombay High Court ruled that Central Board of Direct Taxes (CBDT) Circular disallowing Expenses associated with Doctor...
![Branding Expenses by Start-Up before Commencement of Business constitute “Business Loss”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Branding-Expenses-Start-Up-Commencement-of-Business-Business-Loss-ITAT-Income-Tax-taxscan-.jpg "Branding Expenses by Start-Up before Commencement of Business constitute “Business Loss”: ITAT [Read Order]")
![Expenses Incurred as Payment to Parent Company that Issued Shares to Employees of Assessee Allowable as Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Expenses-Payment-Parent-Company-Shares-Shares-to-Employees-Assessee-Deduction-ITAT-Income-Tax-taxscan-.jpg "Expenses Incurred as Payment to Parent Company that Issued Shares to Employees of Assessee Allowable as Deduction: ITAT [Read Order]")
![EHL Ltd and The Lalit Golf and Spa Resort fails to respond notice u/s 133(6): ITAT to deletes Addition on Marketing Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/EHL-Ltd-and-The-Lalit-Golf-and-Spa-Resort-respond-notice-ITAT-Marketing-Expenses-TAXSCAN.jpg "EHL Ltd and The Lalit Golf and Spa Resort fails to respond notice u/s 133(6): ITAT to deletes Addition on Marketing Expenses [Read Order]")
![Expenses to Musical Programme and Garba Event are Personal in Nature, No Income Tax deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Expenses-Musical-Programme-Garba-Event-Personal-in-Nature-Income-Tax-deduction-Income-Tax-deduction-ITAT-taxscan.jpg "Expenses to Musical Programme and Garba Event are Personal in Nature, No Income Tax deduction: ITAT [Read Order]")
Prior period Expense can't be Added back While Computing Profit & Gain of Business and Profession: ITAT orders to Recompute Book Profit [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that prior period expense can't be added back while computing profit & gain of business and profession. Kavithalayaa...
![Prior period Expense cant be Added back While Computing Profit & Gain of Business and Profession: ITAT orders to Recompute Book Profit [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Expense-Computing-Profit-Gain-Computing-Profit-Gain-Business-Business-and-Profession-ITAT-Income-Tax-Recompute-Book-Profit-Book-Profit-Taxscan-.jpg "Prior period Expense cant be Added back While Computing Profit & Gain of Business and Profession: ITAT orders to Recompute Book Profit [Read Order]")
Indexation benefit to be Given on Improvement Expenses Increased towards Capital Assets: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Bangalore, has recently, in an appeal filed before it, held that indexation benefit to be given on improvement expenses increased towards capital assets. ...
![Indexation benefit to be Given on Improvement Expenses Increased towards Capital Assets: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Capital-Assets-ITAT-TAXSCAN.jpg "Indexation benefit to be Given on Improvement Expenses Increased towards Capital Assets: ITAT [Read Order]")
![Premium on Forward Exchange Contracts can be Deducted as Expense: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Premium-exchange-contracts-ITAT-taxscan.jpeg "Premium on Forward Exchange Contracts can be Deducted as Expense: ITAT [Read Order]")
No Disallowance of Expenses on basis of Lack of Business Activity or Non-Reporting Income under PGBP: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that no disallowance of expenses on basis of lack of business activity or non-reporting income under Profit and gains of business or...
![No Disallowance of Expenses on basis of Lack of Business Activity or Non-Reporting Income under PGBP: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Disallowance-Expenses-Business-Activity-Income-PGBP-ITAT-taxscan.jpg "No Disallowance of Expenses on basis of Lack of Business Activity or Non-Reporting Income under PGBP: ITAT [Read Order]")
![Expenses incurred for Licence of Software, revenue in nature: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Expenses-licence-of-software-ITAT-taxscan.jpg "Expenses incurred for Licence of Software, revenue in nature: ITAT [Read Order]")
![No Provision for prior period Expenses u/s 115JB(2), Addition not permissible: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/prior-period-expenses-ITAT-taxscan.jpg "No Provision for prior period Expenses u/s 115JB(2), Addition not permissible: ITAT [Read Order]")
Expenses cannot be disallowed solely due to Non-Receipt of Invoices: ITAT grants Relief to L'Oreal [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai has granted relief to L’Oreal India Private Limited and held that expenses cannot be disallowed solely due to non-receipt of invoices. The...
![Expenses cannot be disallowed solely due to Non-Receipt of Invoices: ITAT grants Relief to LOreal [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Expenses-Invoices-ITAT-LOreal-taxscan.jpeg "Expenses cannot be disallowed solely due to Non-Receipt of Invoices: ITAT grants Relief to LOreal [Read Order]")