Allowable expenditure u/s 37 - Guarantee money - in the event ...

Income Tax

November 6, 2020

Allowable expenditure u/s 37 - Guarantee money - in the event assessee is not able to make good the full payment towards R&R plan as directed by CEC, the guarantee money paid by assessee would be forfeited to that extent. We therefore, cannot concur with the observations of the authorities below that such payment is hit by Explanation 1 to Section 37 (1). - AT

View Source

← Previous Next →

Allowable expenditure u/s 37 - Guarantee money - in the event ...

Income Tax

November 6, 2020

You may also like:

Nature of software expenses - these are towards payment for renewal of software which the assessee was using for client deliverables - software expenses are revenue in...

Allowable expenditure u/s 37(1) - Settlement charges paid to SEBI - penalty paid for infraction of law - payment was made without admitting or denying the guilt - claim...

Addition u/s 37(1) - non-competition fee - revenue or capital expenditure - it does not bring in any capital asset - the payment is allowable u/s 37(1) - HC

Deduction u/s 37 - Guarantee commission paid to State Government – allowed as revenue expenditure - HC

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

Payment made towards traffic rule violation - whether revenue expenditure u/s 37(1) - whether such payments made were for an offence or is prohibited by law? - payment...

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

Payment of legal fees and expenses towards defending in a criminal prosecution not allowable as business expenditure because the same was not expended wholly and...

Expenditure toward the grant-in-aid to the school/institution - allowable u/s 37(1) as expenditure have been incurred for the purpose of business of the assessee i.e and...

Expenditure paid to Pune Municipal Corporation(PMC) for regularizing the excess area constructed for a building called "MODI MALL" - Is in the nature of penalty - not...

Quick Updates: