Judgement

The ITAT Mumbai held that business expenditure incurred through the credit card of the assessee’s spouse cannot be treated as payment for services requiring TDS.

ITAT Holds Business Expenses Can Be Incurred Through Spouse’s Credit Card and Cannot Be Disallowed

Tribunal holds TDS threshold applies per game and Section 40(a)(ia) cannot disallow non-expense payouts.

ITAT: Section 40(a)(ia) Cannot Disallow Player Winnings Not Claimed as Business Expense

The Delhi High Court quashes ad hoc disallowance of car and telephone expenses against the company assessee.

Delhi HC Rules Against Arbitrary Disallowance of Corporate Business Expenses

Tribunal holds ESOP and IT support payments to overseas group company are allowable business expenses; directs assessee to challenge sales return disallowance separately

ITAT Allows ESOP Expenses And Promotional Testers Allowed As Business Deduction

ITAT Allows ESOP Expenses and Promotional Testers Allowed As Business Deduction

Considering this, the tribunal ruled that the late supply of goods is not a crime or violation of law but a payment for breach of contract.

Penalty on Late Supply of Goods is Compensatory in Nature and is Allowable Business Expenses: ITAT

ITAT holds Section 68 conditions satisfied, quashes Section 56(2)(viib) addition, and sets aside CIT(A)’s income enhancement for lack of notice

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ITAT Holds Business Expenses Can Be Incurred Through Spouse’s Credit Card and Cannot Be Disallowed

ITAT: Section 40(a)(ia) Cannot Disallow Player Winnings Not Claimed as Business Expense

Delhi HC Rules Against Arbitrary Disallowance of Corporate Business Expenses

ITAT Allows ESOP Expenses and Promotional Testers Allowed As Business Deduction

Penalty on Late Supply of Goods is Compensatory in Nature and is Allowable Business Expenses: ITAT

ITAT Deletes Share Capital & Share Premium Additions; Upholds DCF Valuation and Business Expense Claim