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Diwali celebration expenses incurred at business premises with staff qualify as business expenditure where they generate goodwill among employees and customers. General, office and sales-promotion expenses found and conceded to be personal are disallowable. Other expenses cannot be disallowed merely because bills or verifiable vouchers are unavailable, without a specific finding that they are personal or were not incurred for business purposes.
Diwali celebration expenses incurred at business premises with staff qualify as business expenditure where they generate goodwill among employees and customers. General, office and sales-promotion expenses found and conceded to be personal are disallowable. Other expenses cannot be disallowed merely because bills or verifiable vouchers are unavailable, without a specific finding that they are personal or were not incurred for business purposes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
