https://www.taxtmi.com/caselaws?id=340454 Expenditure incurred to secure sponsorship rights was treated as deductible under section 37(1) because it was linked to commercial expediency, a continuing business relationship and the recoupment of unutilised consideration; the disallowance was deleted. An estimated professional fee for promised appearances and promotions was not taxed because the services never materialised and there was no receipt, accrual or real income; the addition was deleted. By contrast, the annual value of a Dubai villa was held taxable in India under the India-UAE treaty framework, with foreign tax credit to be dealt with under law, resulting in a partial allowance of the appeal. en-us Fri, 17 Mar 2017 00:00:00 +0530 Wed, 22 Mar 2017 09:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340454 Expenditure incurred to secure sponsorship rights was treated as deductible under section 37(1) because it was linked to commercial expediency, a continuing business relationship and the recoupment of unutilised consideration; the disallowance was deleted. An estimated professional fee for promised appearances and promotions was not taxed because the services never materialised and there was no receipt, accrual or real income; the addition was deleted. By contrast, the annual value of a Dubai villa was held taxable in India under the India-UAE treaty framework, with foreign tax credit to be dealt with under law, resulting in a partial allowance of the appeal. Case-Laws Income Tax Fri, 17 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340454