Expenditure on spouse/ relatives of Director of the company is ...

Case Laws Income Tax

September 26, 2013

Expenditure on spouse/ relatives of Director of the company is disallowed u/s 37 of the Income Tax Act - a sum of Rs. 13.38 lakhs incurred by the appellant-company on the foreign tours of spouses of the directors has rightly been disallowed - AT

View Source

← Previous Next →

Expenditure on spouse/ relatives of Director of the company is ...

Case Laws Income Tax

September 26, 2013

You may also like:

The Commissioner of Income Tax (CIT) invoked Section 263 to revise the Assessing Officer's (AO) order, disallowing the amount paid on termination of an agreement,...

Allowable revenue expenditure u/s 37(1) - Writing off of advance given to the Director - waiver of excess remuneration paid to the Director - The provisions of Section...

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

Prior period expenditure - when prior period income is taxed prior period expenditure cannot be disallowed - AT

Disallowing commission expenses u/s 37 - As all the persons to whom commission was paid were either Directors of the Company or their relatives. None of them is shown to...

Income under the head 'business and profession' would be earned by incurring relevant expenditure. While unjustified expenditure could be disallowed, there are limits to...

Disallowance u/s 36(1)(iii) - claim of interest expenditure - The companies GIL and CNIL are subsidiary companies, which clearly indicates that the investment made by...

Entitlement to exemption u/s 11 - there is a violation of sec. 13(1)(c) of the Act as the assessee invested funds in a limited company where the trustee is the Managing...

Nature of expenditure - Revenue expenditure or capital expenditure - The ITAT held that, it is now well settled that revenue expenditure is allowable in entirety in the...

TP Adjustment - Disallowance of expenditure u/s 40(a)(ia) - any expenditure not for the purpose of business, the A.O. can certainly re-characterize the same as not...

Loans to directors, etc - to limit the prohibition on loans, advances, etc., to directors of the company or its holding company or any partner of such director or any...

Disqualifications for appointment of a Directors - if the default is committed by company A by not filing financial statements or annual returns, the said director of...

Company to have Board of Directors - easier requirements with respect to appointment of resident director. It also seeks to specify limits with respect to pecuniary...

Disqualification of a director of the financial creditor to sign the Section 7 application was challenged. The application u/s 7, signed by the director of the financial...

The assessee claimed deduction of brokerage expenses u/s 57(iii) against income from other sources. The Assessing Officer disallowed part of the expenses in proportion...

Quick Updates: