Business Expenditure

Supreme Court Disallows Tax Benefits on Freebies Given to Doctors: Apex Laboratories vs. Deputy Commissioner of Income Tax (22 Feb 2022)

/ Business Expenditure, Contract Act, 1872, Contract Act, 1872 with Section 23, Income Tax Act, 1961, Income Tax Act, 1961 with Section 37(1), Judges, Public Policy, S. Ravindra Bhat, Uday Umesh Lalit

Supreme Court Disallows Tax Benefits on Freebies Given to Doctors: Apex Laboratories vs. Deputy Commissioner of Income Tax (22 Feb 2022) LEGAL ISSUE: Whether pharmaceutical companies can claim tax deductions on expenses incurred for providing freebies to medical practitioners. CASE TYPE: Income Tax Law Case Name: M/s Apex Laboratories Pvt. Ltd. vs. Deputy Commissioner of […]

Supreme Court Disallows Tax Benefits on Freebies Given to Doctors: Apex Laboratories vs. Deputy Commissioner of Income Tax (22 Feb 2022) Read Post »

Supreme Court Clarifies Deductible Expenses for Sugar Cooperatives: CIT vs. Tasgaon Taluka (2019)

/ A.K. Sikri, Business Expenditure, Income Tax Act, Income Tax Act with Section 37(1), Income Tax Act with Section 40A(2)(a), Judges, M.R. Shah, S. Abdul Nazeer, Sugar Cane (Control) Order, 1966, Sugar Cane (Control) Order, 1966 with Clause 3, Sugar Cane (Control) Order, 1966 with Clause 5A

Supreme Court Clarifies Deductible Expenses for Sugar Cooperatives: CIT vs. Tasgaon Taluka (2019) LEGAL ISSUE: Determination of allowable business expenditure for sugarcane purchase by cooperative societies. CASE TYPE: Income Tax Law Case Name: Commissioner of Income Tax, Bombay vs. Tasgaon Taluka Sahakari Sakhar Karkhana Limited [Judgment Date]: March 5, 2019 Date of the Judgment: March

Supreme Court Clarifies Deductible Expenses for Sugar Cooperatives: CIT vs. Tasgaon Taluka (2019) Read Post »

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