Prior period expenses - payment of interest on unspent subsidy - ...

Interest on Unspent Subsidy Allowable u/s 37(1) of Income Tax Act for Current Year.

April 24, 2017

Case Laws Income Tax AT

Prior period expenses - payment of interest on unspent subsidy - the expenditure which is a compensation of the earning made by the assessee on account of funds of government of India being used by the assessee for intermittent period, becomes an expenditure which is allowable u/s 37(1) of the assessee during the current year - AT

View Source

← Previous Next →

Prior period expenses - payment of interest on unspent subsidy - ...

Interest on Unspent Subsidy Allowable u/s 37(1) of Income Tax Act for Current Year.

April 24, 2017

Case Laws Income Tax AT

You may also like:

The assessee claimed deduction for interest and late fees paid on account of delay in filing GST returns. The authorities disallowed the claim, invoking Explanation 1 to...

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

Misappropriation of funds by an employee led to the assessee claiming expenses u/s 37(1) of the Act, which were later discovered to be embezzlement. The assessee...

Addition u/s 37(1) - disallowing interest provided on loan - loan was used to purchase shares - Assessee received loan in earlier years on which interest is also paid...

The assessee made investments in tax-free bonds and had sufficient free reserves and interest-free capital. The Supreme Court held that if the assessee has sufficient...

Allowable u/s 37(1)- Whether the expenses incurred on construction of tennis court are allowable as revenue expenses or are capital in nature - the expenditure on Black...

Exemption u/s 11 - claiming benefit of accumulation u/s 11(2) over deemed income u/s 11(3) - non application of income - the assessee should not be eligible to 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

Nature of expenses - Allowable expenses u/s 37(1) - Interest and late fee on TDS, Late payment & penalty charges, Interest on margin trading facility - There was no...

Deduction of interest on late deposit of TDS under Section 37(1) - payment of interest on late deposit of tax deduction at source by the assessee leviable u/s 201 (1A)...

Interest paid on late payment of TDS - allowable deduction u/s 37(1) or not? - Interest on delayed payment of TDS cannot be allowed as deduction. - The interest...

Allowable expenditure u/s 37(1) - addition relating to form fees which was deposited for obtaining the wine shop through government - non-accepting the theory of...

Rental deposits written off - allowable revenue expenses u/s 37(1) - The assessee could not occupy the property since the required permission was not taken by the owner...

Disallowance of keyman insurance policy of the director of the company paid - The premium paid for keyman insurance policy is allowable to the assessee u/s. 37(1) of the...

Allowable expenditure u/s 37(1) - providing gifts and freebies to Doctors and Medical Practitioners - Indian Medical Council (Professional Conduct, Etiquette and Ethics)...

Quick Updates: