Home Highlights June 2018 Year 2018 This

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1. Settlement charges paid to SEBI - penalty paid for infraction of law - payment was neither in the nature of protection money, nor extortion, nor hafta nor bribe nor a...

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

3. Business expenditure - allow-ability u/s 37(1)- The assessee also failed to prove that they had got any benefit for becoming a guarantor of the said company. Therefore,...

4. Allowability of fine and penalty as per section 37 - the ‘FINE’ paid by the Assessee is allowed as expenditure u/s 37(1) the amount paid as ‘penalty’is an inadmissible...

5. Business expenditure u/s 37(1) - when a payment by way of impost or by way of penalty or interest is purely compensatory and not penal in nature, the same should be...

6. Disallowance u/s 37(1) - penalty amount - Merely because the assessee categorised the claim under “penalty levied on the assessee company for not complying to the terms...

7. Expenditure paid to Pune Municipal Corporation(PMC) for regularizing the excess area constructed for a building called "MODI MALL" - Is in the nature of penalty - not...

8. Disallowance of expenditure u/s 37(1) - Amount paid as penalty for using electricity during restricted hours - the amount paid being penalty, the AO was justified in...

9. Nature of stamp duty paid in relation to the leased business premises - Revenue or capital expenditure - lease was for a period of 10 years - The same is not a deferred...

10. Punitive charges paid to the Railways - Allowable Revenue expenditure u/s 37 - whether the punitive charges paid to the Railways for alleged violation of the provision...

11. 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...

12. 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

13. 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...

14. 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...

15. Expenditure Allowable u/s 37(1) - Disallowance of medical insurance premium paid for the family members of the employees of the company - it can hardly be said that the...