A judgment on issue of illegal, prohibited payments not allowable That medical practitioners were forbidden from accepting such gifts, or “freebies” was no less a prohibition on the part of their giver, or donor – held so by the Supreme Court such expenses are not allowable.

A judgment on issue of illegal, prohibited payments not allowable That medical practitioners were forbidden from accepting such gifts, or “freebies” was no less a prohibition on the part of their giver, or donor – held so by the Supreme Court such expenses are not allowable. https://www.taxtmi.com/article/detailed?id=10297 Expenses by pharmaceutical and diagnostic companies characterized as gifts, freebies or inducements to medical practitioners that are illegal or prohibited by professional ethics are not deductible. The donor's participation in transactions contrary to statutory or regulatory norms precludes the donor from claiming such payments as business deductions, grounded in the principle that civil relief will not be founded on wrongdoing and in the need for coherence between tax treatment and professional regulation. en-us Tue, 01 Mar 2022 10:35:32 +0530 Tue, 01 Mar 2022 10:35:32 +0530 TaxTMI RSS Generator A judgment on issue of illegal, prohibited payments not allowable That medical practitioners were forbidden from accepting such gifts, or “freebies” was no less a prohibition on the part of their giver, or donor – held so by the Supreme Court such expenses are not allowable. https://www.taxtmi.com/article/detailed?id=10297 Expenses by pharmaceutical and diagnostic companies characterized as gifts, freebies or inducements to medical practitioners that are illegal or prohibited by professional ethics are not deductible. The donor's participation in transactions contrary to statutory or regulatory norms precludes the donor from claiming such payments as business deductions, grounded in the principle that civil relief will not be founded on wrongdoing and in the need for coherence between tax treatment and professional regulation. Articles Income Tax Tue, 01 Mar 2022 10:35:32 +0530 https://www.taxtmi.com/article/detailed?id=10297