Loss of confiscation of silver bars by DRI officials - Whether ...

Case Laws Income Tax

April 26, 2023

Loss of confiscation of silver bars by DRI officials - Whether allowable business expenditure u/s 37(1) - A penalty or a confiscation is a proceeding in rem, and therefore, a loss in pursuance to the same is not available for deduction regardless of the nature of business, as a penalty or confiscation cannot be said to be incidental to any business - SC

View Source

← Previous Next →

Loss of confiscation of silver bars by DRI officials - Whether ...

Case Laws Income Tax

April 26, 2023

You may also like:

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

Forex loss - allowable business loss u/s 37(1) or not? - The assessee company has entered into transactions of buying and selling of forex and incurred a loss on the...

Disallowance of expenses made u/s.37(1) - disallowance of expenditure on adhoc basis made by the ld. AO by giving a categorical finding that the ld. AO had not even...

CSR expenditure - whether a allowable business expenditure? - explanation to Section 37(1) of the Act would not be applicable as it was with effect from the assessment...

Disallowance of Corporate Social Responsibility (CSR) expenses u/s 37(1) - prior to insertion of Explanation – 2 to section 37(1) of the Act, w.e.f., 01.04.2014, as per...

Payment made towards traffic rule violation - whether revenue expenditure u/s 37(1) - whether such payments made were for an offence or is prohibited by law? - payment...

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...

Business expenditure u/s.37(1) - share issue expenses - assessee has abandoned the proposal to issue shares at later stage - when the nature of expenditure incurred by...

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...

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

The High Court's judgment addressed the interpretation of Section 43A regarding losses arising from exchange rate fluctuations on foreign currency loans utilized for...

Allowability of bad debts - advanced to one Developers for booking commercial space in an upcoming construction project - allowable u/s. 36(1)(vii)OR business loss u/s...

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...

Expenditure incurred for payment of foreclosure premium for restructuring loan and obtaining fresh loan at a lower rate of interest is allowable as business expenditure...

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...

Quick Updates: