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Income Tax - Highlights / Catch Notes

Home Highlights September 2017 Year 2017 This

Business expenditure u/s 37 - liquidated damage - breach of ...

Income Tax

September 19, 2017

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 law - cannot be disallowed - HC

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  2. 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...

  3. Pharmaceutical companies’ gifting freebies to doctors, etc. - whether Allowable Business expenditure under Section 37(1)?

  4. Claim of expenditure - Damages paid by the assessee to Microsoft Corporation USA for unauthorized use of software / operating system - the payment of such damages is...

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