https://www.taxtmi.com/caselaws?id=64987 Hospitality expenditure on an opening ceremony, including dinner, hotel stay and gifts to stockists, was treated as entertainment expenditure under Explanation 2 to section 37(2A), with 25% excluded from disallowance as relatable to employees. Depreciation on vehicles leased out before year-end was allowed because the lease transactions were completed, possession had passed, rentals were received and the Revenue failed to show non-use for business. A bona fide changed method of accounting for lottery tickets despatched before year-end was accepted because it was a recognised method that better reflected true income and was not shown to be legally defective or revenue-suppressive. en-us Fri, 29 Sep 1995 00:00:00 +0530 Fri, 11 Feb 2011 15:08:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64987 Hospitality expenditure on an opening ceremony, including dinner, hotel stay and gifts to stockists, was treated as entertainment expenditure under Explanation 2 to section 37(2A), with 25% excluded from disallowance as relatable to employees. Depreciation on vehicles leased out before year-end was allowed because the lease transactions were completed, possession had passed, rentals were received and the Revenue failed to show non-use for business. A bona fide changed method of accounting for lottery tickets despatched before year-end was accepted because it was a recognised method that better reflected true income and was not shown to be legally defective or revenue-suppressive. Case-Laws Income Tax Fri, 29 Sep 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64987