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 August 2016 Year 2016 This

Disallowance u/s 37 - compensating the damage to the environment ...

Income Tax

August 13, 2016

Disallowance u/s 37 - compensating the damage to the environment - The compensation was paid because the assessee had failed to install the pollution control device within the time prescribed - claim of expenditure allowed as incurred fro the purpose of business - HC

View Source

 


 

You may also like:

  1. Payment of liquidated damages - Capital or Revenue in nature - the claim of assessee on liquidated damages deducted under the agreed condition of the contract is...

  2. Enterprise Resource Planning (ERP) software installed by the assessee denied on the ground of it representing capital expenditure, inadmissible u/s. 37(1) - AT

  3. Disallowance of assessee’s claim in respect of its liquidated damages - Revenue argument that these liquidated damages are only in the nature of a provision is...

  4. Disallowance on account of commission paid - justification of payment with services rendered - mere deducting of TDS cannot be discharged onus cast on the assessee for...

  5. Disallowance of expenditure u/s 37(1) - Amount paid as penalty for using electricity during restricted hours - the amount paid being penalty, the AO was justified in...

  6. Business expenditure u/s 37 - liquidated damage - breach of contract terms - Expenditure was not incurred for any purpose which is an offence or which is prohibited by...

  7. Restriction on deduction of expenditure u/s 37(1) - compensation paid for breach of contract - enalty has been paid by the assessee on account of breach of contract...

  8. Disallowance of the expenses of damage - CIT-A restricted addition to 10% - the cost incurred for the damage of goods is directly connected with the business activities...

  9. Disallowance of liquidated damages claimed by assessee - “Liquidated damages” are compensation paid for breach of contract. We are therefore, unable to understand how...

  10. Allowable as business expenses - Small contributions to local people and institution on request of employees and business associates - Section 37 of the Act contemplates...

 

Quick Updates:Latest Updates