https://www.taxtmi.com/caselaws?id=15776 For AY 1974-75, expenditure on providing coffee/tea to customers and others was not "entertainment expenditure" under s.37(2A) prior to Expln.2 (Finance Act, 1983, w.e.f. 1.4.1976), following SC; disallowance was rejected and the issue was decided against the Revenue. Vehicle maintenance/wear-and-tear for company-owned cars provided to directors constituted a "perquisite" governed by the ceiling in s.40A(5), following SC; disallowance under s.40A(5) was upheld in favour of the Revenue. For bonus shares, the cost of original shares had to be spread over original and bonus shares together, following SC; the Tribunal's contrary view was set aside in favour of the Revenue. For s.80J, capital employed included machinery awaiting installation and buildings under construction, following SC; deduction was allowed against the Revenue. Club subscriptions were incurred wholly and exclusively for business promotion and not directors' personal benefit; deduction was allowed against the Revenue. en-us Fri, 23 Apr 1999 00:00:00 +0530 Thu, 18 Dec 2025 20:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15776 For AY 1974-75, expenditure on providing coffee/tea to customers and others was not "entertainment expenditure" under s.37(2A) prior to Expln.2 (Finance Act, 1983, w.e.f. 1.4.1976), following SC; disallowance was rejected and the issue was decided against the Revenue. Vehicle maintenance/wear-and-tear for company-owned cars provided to directors constituted a "perquisite" governed by the ceiling in s.40A(5), following SC; disallowance under s.40A(5) was upheld in favour of the Revenue. For bonus shares, the cost of original shares had to be spread over original and bonus shares together, following SC; the Tribunal's contrary view was set aside in favour of the Revenue. For s.80J, capital employed included machinery awaiting installation and buildings under construction, following SC; deduction was allowed against the Revenue. Club subscriptions were incurred wholly and exclusively for business promotion and not directors' personal benefit; deduction was allowed against the Revenue. Case-Laws Income Tax Fri, 23 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15776