S. 37(1) : Business expenditure-Medical check-up provision for charges payable to hospitals-Matter remanded for verification-Escrow Disbursement Provision for incentive payable to distributors-The deduction for the incentive commission is to be allowed the package was sold as reduced by the payments made in respect of the on actual payment basis in the concerned year irrespective of the year in which packages sold in the earlier years. [S. 145]
S. 37(1) : Business expenditure-Capital or revenue-Documents and stamp charges on conversion of debentures into equity shares-Capital expenditure-Alternative claim under section 35D is also rejected. [S. 35D]
S. 37(1) : Business expenditure-Excess interest charged by Bank-Not allowable as deduction-Disallowance was restricted to the extent of the amount claimed as deduction during the year.-Corporate guarantee commission allowable as deduction.
S. 37(1): Business expenditure-Provision for expenses on periodic overlay of BOT road-Ascertained liability-Any addition made towards such provision would enhance the taxable profit which is eligible for deduction under S 80IA(4)(i)-A revenue neutral exercise-Allowable as deduction.[S.80IA(4)(i)]
S. 37(1) : Business expenditure-Provision for warranty expenses-Matter remanded. [S. 145]
S. 37(1) : Business expenditure-Capital or revenue-Legal expenses-Allowable as revenue expenditure. [S. 269UC]
S. 37(1) : Business expenditure-Legal and travelling expenses-Defence of Directors and Shareholders who were accused in case before CBI Special Court-Matter remanded.
S. 37(1) : Business expenditure-Discount-Computer generated Bills not containing signature of assessee or customer-Discount cannot be disallowed.
S. 37(1) : Business expenditure-Payment made at check post and police charges-Expenditure in nature of offence or prohibited by law-Disallowance is proper. [S. 37, Expln. 1]
S. 37(1) : Business expenditure-Capital or revenue-Expenditure on systems, applications and products software licence-Revenue expenditure-Sales tax provision-Matter remanded. [S. 145]