Disallowance of Puja expenses - non business expenses - Since it ...

Puja Expenses Partially Allowed for Trucking Business Operations; 10% Disallowed to Prevent Revenue Loss.

July 6, 2020

Case Laws Income Tax AT

Disallowance of Puja expenses - non business expenses - Since it has been found that the expenses incurred are for the smooth functioning of the business of plying trucks, the expenses need to be allowed. However, taking into consideration the peculiar facts and circumstances of the case, 10% of the expenses may be disallowed for plugging the revenue loss if any.

View Source

← Previous Next →

Disallowance of Puja expenses - non business expenses - Since it ...

Puja Expenses Partially Allowed for Trucking Business Operations; 10% Disallowed to Prevent Revenue Loss.

July 6, 2020

Case Laws Income Tax AT

You may also like:

The assessee, engaged in the business of shares and securities, claimed administration expenses, including Portfolio Management Service (PMS) expenses, against capital...

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

TP Adjustment - Disallowance of non-operating and non-allocable expenses incurred for exploring new business in the line of Maintenance and Operations of Transportation...

Addition on account of Business Promotion Expenses - personal element in the business promotion expenses to the extent of 10% of the total expenses cannot be ruled out.

Allowable business expenses - There is difference between commencement of the business and setting off of the business. All the expenses incurred pre-commencement are to...

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

Disallowance of the claim for Bad Debts written off - Disallowance of settlement expenditure - In the case of bad debts, the Appellate Tribunal (ITAT) partially allowed...

Disallowance u/s 37 (1) on account of 'job charges' - onus to prove - Disallowance of 10% of the expenses - Having accepted the books of accounts, disallowing 10% of the...

The Kerala High Court disallowed interest expense claimed by the appellant u/s 36 of the Income Tax Act as it was incurred on a loan used to purchase agricultural land...

Allowability of deduction u/s 37(1) of the Act - Amount of service tax included with interest – expenses have direct nexus with the business operation - expense allowed - HC

The ITAT held that exemption u/s 10(23C) was disallowed due to non-filing of audit report in Form 10BB. Assessee not registered u/s 10(23), ineligible for exemption. Net...

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...

Transfer pricing adjustment on export commission paid to related party disallowed based on assessee's own case demonstrating benefits and higher profitability. Royalty...

Exemption u/s 10(1) - agricultural income - proof of agricultural operations - business of plant floriculture / tissue culture - exemption allowed.

Deduction claimed u/s 36(1)(viii) for interest income from housing finance for non-residential purposes was disallowed, excluding such amounts from computing eligible...

Quick Updates: