BUSINESS EXPENDITURE - ALLOWABILITY OF

Section 37(1) of Income Tax Act, 1961

Compounding fees : Compounding fee paid to Municipal Corporation for legalising construction of building is not allowable as business expenditure - (2014) 52 taxmann.com 484 (Punjab & Haryana)

 

 

Software expenses : Expenditure incurred by assessee on replacement of latest version of software had to be allowed as revenue expenditure - (2015) 53 taxmann.com 112 (Ahmedabad - Trib.)

 

 

REPAIRS : Expenditure incurred by assessee on replacement of old tiles, wooden partition, pest control, etc. in respect of business premises taken on lease, was to be allowed as revenue expenditure - (2015) 53 taxmann.com 112 (Ahmedabad - Trib.)