https://www.taxtmi.com/caselaws?id=372444 Conference expenses were disallowed under section 37(1) because the assessee did not substantiate that watches, merchandise and other items were distributed for business purposes, while dinner, video coverage and sponsorship were treated as personal, celebratory, or prohibited expenditure; the disallowance was sustained. Travelling expenses, including the Beijing trip involving counsels and family members, were also held to be personal in nature because the record did not prove a business nexus or any conference-related purpose, and the disallowance and enhancement were upheld. The note reiterates that deduction under section 37(1) requires proof that expenditure was incurred wholly and exclusively for business and is not hit by legal prohibition. en-us Thu, 20 Dec 2018 00:00:00 +0530 Sat, 22 Dec 2018 08:49:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372444 Conference expenses were disallowed under section 37(1) because the assessee did not substantiate that watches, merchandise and other items were distributed for business purposes, while dinner, video coverage and sponsorship were treated as personal, celebratory, or prohibited expenditure; the disallowance was sustained. Travelling expenses, including the Beijing trip involving counsels and family members, were also held to be personal in nature because the record did not prove a business nexus or any conference-related purpose, and the disallowance and enhancement were upheld. The note reiterates that deduction under section 37(1) requires proof that expenditure was incurred wholly and exclusively for business and is not hit by legal prohibition. Case-Laws Income Tax Thu, 20 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372444