https://www.taxtmi.com/caselaws?id=371411 The Appellate Tribunal upheld the disallowance of gift expenses as personal rather than business expenditures under section 37 of the Income Tax Act. However, the Tribunal partially allowed the appeal concerning the disallowance of various business expenses due to lack of verifiable evidence. The disallowance percentage was reduced from 15% to 10% based on the facts and circumstances of the case. en-us Tue, 21 Aug 2018 00:00:00 +0530 Tue, 04 Dec 2018 08:59:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371411 The Appellate Tribunal upheld the disallowance of gift expenses as personal rather than business expenditures under section 37 of the Income Tax Act. However, the Tribunal partially allowed the appeal concerning the disallowance of various business expenses due to lack of verifiable evidence. The disallowance percentage was reduced from 15% to 10% based on the facts and circumstances of the case. Case-Laws Income Tax Tue, 21 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371411