S. 37(1) : Business expenditure-Provision for warranty-Replacement of batteries-Allowable as deduction-Sales promotion expenses-Expenditure for giving valuable gifts to certain parties-Disallowance cannot be made on ad-hoc basis-Travelling expenses of partner for personal trip-Not allowable as business expenditure. [S. 145]
S. 37(1) : Business expenditure-Capital or revenue-Royalty paid as percentage of sale in consideration of supply of Technical Know-how is allowable as revenue expenditure-Telephone and travelling expenditure-Self made vouchers-Disallowance of 10 % of expenditure is held to be not valid.
S. 37(1) : Business expenditure-Capital or revenue-Corporate Social Responsibility expense-Explanation 2 to section 37(1) inserted by Finance Act, 2014 with effect from 1-4-2015 is prospective in nature.
S. 37(1) : Business expenditure-Annual share listing fees paid to stock exchange-Allowable as revenue expenditure-Community development donation-Allowable as business expenditure.
S. 37(1) : Business expenditure-Real estate business-Expenses for certification work, management consultancy, fees for appearance before Tax Authorities and company secretarial work as professional fee-Allowable as deduction.
S. 37(1) : Business expenditure-Professional fees-Prior period expenditure-Expenses pertaining earlier year-Crystallized during the year-Allowable as deduction-Commission payable-Expenses pertaining to earlier year-Not allowable as deduction. [S. 145]
S. 37(1) : Business expenditure-ESOP Scheme-Discount on shares allotted by assessee to its employee under ESOP Scheme is revenue expenditure.
S. 36(1)(vii) : Bad debt-Unutilized CENVAT and Service Tax credit-Not allowable as bad debt-Failure to establish irrecoverable during year under consideration the amount not allowable as business loss. [S. 28(i), 36(2), 37(1)]
S. 36(1)(iii) : Interest on borrowed capital-Land-Interest cost on capital asset-Not put to use-Not allowable as revenue expenditure. [S. 43(1)]
S. 35DDA : Amortisation of expenditure-Voluntary retirement scheme-Slump sale-Allowable as deduction. [S. 50B]