Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights December 2014 Year 2014 This

The expenditure claimed by the assessee on higher education of ...


Expenditure for Managing Director's Granddaughter's Education Not Considered Business Expense by Assessee.

December 30, 2014

Case Laws     Income Tax     AT

The expenditure claimed by the assessee on higher education of the grand-daughter of the Managing Director of the assessee was not wholly and exclusively for the purpose of business of the assessee - AT

View Source

 


 

You may also like:

  1. The Managing Director of the company is personally responsible for meeting the expenditure of his son’s education. The expenditure incurred by the assessee for providing...

  2. The court interpreted Section 141 of the Negotiable Instruments Act, holding that managing directors and joint managing directors are responsible for the company's...

  3. Expenditure claimed by the assessee to fund the higher education of its director had an intimate and direct connection with its business - expenditure allowed u/s 37(1) - HC

  4. Penalty u/s 271D - Default u/s 269SS - cash loan(s) availed form its Managing Director in current account - day-to-day emergency expenses - AO directed to examine that...

  5. Penalty invoking the provisions of section 271D - Managing Director of the assessee company had extended cash to the company - loan or deposits u/s 269SS - By invoking...

  6. Disallowing the business expenditure claimed as incurred for the higher education abroad of the son of a Director of the assessee company, who was also the Managing...

  7. Disallowance of expenses u/s 37(1) by the CPC - Associateship fees paid to Mumbai Cricket Association - Membership of the employees of the company including Chairman and...

  8. The commission was paid to Managing Director and Director (Operations) as per their terms of appointment as is apparent from Board Resolution - claim of expenditure allowed - AT

  9. Expenditure incurred by subsidiary company for overseeing and executing contracts entered by parent company cannot be considered as business loss of subsidiary....

  10. Clandestine removal - Jurisdiction - The statement of the Managing Director recorded under Section 14 of the Act of 1944 could be relied upon and treated as a relevant...

  11. Dishonor of Cheque - signatories of the defaulted cheque - Liability of Chairman / Managing Director - Having done that there was no liberty available to the complainant...

  12. Disallowance u/s section 36(1)(ii) - payment in lieu of dividend - amount of commission and bonus paid to the Managing Director was an allowable business expenditure - AT

  13. Expenses incurred in respect of foreign education of the Director - the main purpose as per the company is that education of director would be useful in expanding the...

  14. Allowable revenue expenditure u/s 37 - training charges incurred on non-executive director - Assessee has sponsored the education of son of the M.D. What is relevance,...

  15. Expenses related to the foreign travels of the family members of the directors - business expediency - As the assessee may stand to derive some business benefit from...

 

Quick Updates:Latest Updates