Disallowance u/s. 37(1) - expenses incurred for purchase of gift ...

Gift Expenses Disallowed u/s 37(1) Due to Non-Disclosure of Recipient Identities; Additions Confirmed to Taxable Income.

March 12, 2019

Case Laws Income Tax AT

Disallowance u/s. 37(1) - expenses incurred for purchase of gift items - assessee has failed to even disclose the identity of the recipient of gifts either during the assessment proceedings or during the appellate proceedings - additions confirmed.

View Source

← Previous Next →

Disallowance u/s. 37(1) - expenses incurred for purchase of gift ...

Gift Expenses Disallowed u/s 37(1) Due to Non-Disclosure of Recipient Identities; Additions Confirmed to Taxable Income.

March 12, 2019

Case Laws Income Tax AT

You may also like:

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...

ITAT ruled against double taxation of personal credit card expenses initially disallowed under s.37(1) in company's returns. Where company had already acknowledged...

Disallowing of gift expenses and Diwali Gift expenses u/s 37 (1) - gift for the person who are not connected with the business of the assessee - CIT (A) was justified in...

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

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...

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...

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) - non-competition fee - revenue or capital expenditure - it does not bring in any capital asset - the payment is allowable u/s 37(1) - HC

Claim of expenses disallowed u/s 37(1) - expenditure/loss incurred on abandoned project – for the first two years the expenditure is shown as “work-in-progress” - claim...

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...

Expenses under the head research and development - deduction of such expenses under the provisions of section 37(1) OR u/s 35 - the genuineness of the expenses cannot be...

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...

Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

Various issues related to allowability of expenses, deductions, transfer pricing adjustments, and other income tax matters for a pharmaceutical company. Key points are:...

The Appellate Tribunal considered two main issues: 1. Addition u/s 37(1) - Assessee incurred business loss due to default in property payment, allowed as revenue loss. 2....

Quick Updates: