https://www.taxtmi.com/caselaws?id=278684 The note examines tax treatment of several corporate expenses and adjustments. Film preview expenses were treated as routine business expenditure and allowed. Legal expenses and the disallowance under section 14A read with rule 8D were sent back for fresh verification of factual issues, including own funds, strategic investment, exempt income, and supporting material. Foreign travelling expense was disallowed for lack of business evidence, while an ad hoc disallowance of travelling, advertising, printing and stationery expenses was deleted because blanket personal-use disallowance was not justified for a company. Proportionate interest under section 36(1)(iii) and notional interest as a transfer pricing adjustment were deleted where own funds and business expediency were shown. en-us Wed, 09 Dec 2015 00:00:00 +0530 Mon, 18 Feb 2019 06:31:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278684 The note examines tax treatment of several corporate expenses and adjustments. Film preview expenses were treated as routine business expenditure and allowed. Legal expenses and the disallowance under section 14A read with rule 8D were sent back for fresh verification of factual issues, including own funds, strategic investment, exempt income, and supporting material. Foreign travelling expense was disallowed for lack of business evidence, while an ad hoc disallowance of travelling, advertising, printing and stationery expenses was deleted because blanket personal-use disallowance was not justified for a company. Proportionate interest under section 36(1)(iii) and notional interest as a transfer pricing adjustment were deleted where own funds and business expediency were shown. Case-Laws Income Tax Wed, 09 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278684