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1. 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...

2. Income From other sources - The Appellate Tribunal addressed the disallowance of interest expenses u/s 57(iii) of the Act. The claim was denied due to lack of direct...

3. Disallowances of centenary celebration expenses, gift distribution and interest relief to society expenses - The expense incurred on account of relief fund to celebrate...

4. Revision u/s 263 by CIT - CIT has duly examined the nature of expenses. The expenses are related to medical grants and other grants and J&K flood affected employees -...

5. In the present case, the Assessing Officer (AO) disallowed the expenditure claimed u/s 57(iii) of the Income Tax Act on an ad-hoc basis. The AO did not challenge the...

6. Interest expenses claim against the interest income received - It is the nature of the business and all the expenditure incurred in earning the income is allowable...

7. Disallowance of tour and travel expenses - no details were forthcoming from the assessee to substantiate these travel and conveyance expenses and justify that these...

8. Claim on corporate social responsibility – Expenses incurred wholly and exclusively for the purpose of business - upliftment of the Adivasis in the locality - claim...

9. Disallowance of payment towards Energy conservation Contribution expenses - the assessee has incurred expenses wholly and exclusively for business purposes - AT

10. Disallowance of claim of interest expenses - The only requirement for allowing the deduction u/s 57(iii) is that the expenditure has been incurred wholly and exclusively...

11. Expenses incurred for earning interest income on estimation basis - AO is directed to allow 1% of expenses on account of interest income and on service charges income - AT

12. Disallowance of sales promotion expenses being gifts to doctors and hospitals - Allowable business expenditure u/s 37(1) - the MCA regulations are applicable to the...

13. Section 44C refers to common head office expenses and cannot encompass the expenses exclusively incurred by the expenses incurred by head office employees exclusively...

14. Credit card expenses - the said expenditures were incurred wholly and exclusively for the purpose of business of the assessee as they are related to staff training...

15. Income from other sources - the assessee has shown bank interest under the head income from other sources and net difference of interest income earned and interest...