https://www.taxtmi.com/caselaws?id=466920 Business expenditure incurred in the course of contract operations, supported by an escalation clause and written off after the contractual claim was declined, was treated as having a direct nexus with the business and as neither capital nor personal in nature; it was therefore allowable under section 37(1). Separate disallowances under section 43B for service tax and VAT were also deleted because the same amounts had already been added back in the income computation, and sustaining the additions would have resulted in double taxation of the same sums. en-us Mon, 24 Feb 2025 00:00:00 +0530 Thu, 26 Feb 2026 03:24:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466920 Business expenditure incurred in the course of contract operations, supported by an escalation clause and written off after the contractual claim was declined, was treated as having a direct nexus with the business and as neither capital nor personal in nature; it was therefore allowable under section 37(1). Separate disallowances under section 43B for service tax and VAT were also deleted because the same amounts had already been added back in the income computation, and sustaining the additions would have resulted in double taxation of the same sums. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466920