https://www.taxtmi.com/caselaws?id=355322 The ITAT allowed the appeal of a cooperative society against the disallowance of expenses under 'Bakshis' and 'Tips & Bakshis' heads for A.Y. 2011-12. The tribunal found the expenses, considered festival bonuses to casual staff, were necessary for daily business operations and part of salary/wages. It noted the Assessee's evidence of commercial expediency and customary nature of payments, supported by board resolutions. The tribunal emphasized the importance of existing customs and practices in allowing the deduction under section 37 of the Income Tax Act, 1961, directing the deletion of the disallowed addition made by the AO. en-us Fri, 09 Feb 2018 00:00:00 +0530 Tue, 13 Feb 2018 06:17:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355322 The ITAT allowed the appeal of a cooperative society against the disallowance of expenses under 'Bakshis' and 'Tips & Bakshis' heads for A.Y. 2011-12. The tribunal found the expenses, considered festival bonuses to casual staff, were necessary for daily business operations and part of salary/wages. It noted the Assessee's evidence of commercial expediency and customary nature of payments, supported by board resolutions. The tribunal emphasized the importance of existing customs and practices in allowing the deduction under section 37 of the Income Tax Act, 1961, directing the deletion of the disallowed addition made by the AO. Case-Laws Income Tax Fri, 09 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355322