Business celebration and unverified expenses may be deductible, while expenses identified and conceded as personal are disallowed.

Business celebration and unverified expenses may be deductible, while expenses identified and conceded as personal are disallowed. https://www.taxtmi.com/highlights?id=105741 Diwali celebration expenses incurred at business premises with staff qualify as business expenditure where they generate goodwill among employees and customers. General, office and sales-promotion expenses found and conceded to be personal are disallowable. Other expenses cannot be disallowed merely because bills or verifiable vouchers are unavailable, without a specific finding that they are personal or were not incurred for business purposes. en-us Tue, 03 Nov 2026 09:23:34 +0530 Tue, 03 Nov 2026 09:23:38 +0530 TaxTMI RSS Generator Business celebration and unverified expenses may be deductible, while expenses identified and conceded as personal are disallowed. https://www.taxtmi.com/highlights?id=105741 Diwali celebration expenses incurred at business premises with staff qualify as business expenditure where they generate goodwill among employees and customers. General, office and sales-promotion expenses found and conceded to be personal are disallowable. Other expenses cannot be disallowed merely because bills or verifiable vouchers are unavailable, without a specific finding that they are personal or were not incurred for business purposes. Highlights Income Tax Tue, 03 Nov 2026 09:23:34 +0530 https://www.taxtmi.com/highlights?id=105741