https://www.taxtmi.com/highlights?id=79688 The expenses incurred towards municipal taxes, maintenance, and repairs of guest-house could not be allowed as a deduction, following the Supreme Court's decision in Britannia Industries Ltd. The expenditure on provision of food, beverages, and employee salaries for providing these at the rest/guest house was considered "entertainment expenditure" u/s 37(2A) and Explanation 2, and hence not deductible. However, 50% of the expenses incurred in organizing a conference for dealers were allowed as business expenditure. Expenses incurred in buying presentation articles were held as allowable deductions, being considered advertisement expenses. en-us Wed, 24 Jul 2024 07:39:04 +0530 Wed, 24 Jul 2024 07:39:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79688 The expenses incurred towards municipal taxes, maintenance, and repairs of guest-house could not be allowed as a deduction, following the Supreme Court's decision in Britannia Industries Ltd. The expenditure on provision of food, beverages, and employee salaries for providing these at the rest/guest house was considered "entertainment expenditure" u/s 37(2A) and Explanation 2, and hence not deductible. However, 50% of the expenses incurred in organizing a conference for dealers were allowed as business expenditure. Expenses incurred in buying presentation articles were held as allowable deductions, being considered advertisement expenses. Highlights Income Tax Wed, 24 Jul 2024 07:39:04 +0530 https://www.taxtmi.com/highlights?id=79688