Business Expenses – smeaccountant

Delhi High Court Rules Companies Cannot Incur Personal Expenses, Overturning Car and Telephone Disallowances

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Delhi High Court Rules Companies Cannot Incur Personal Expenses, Overturning Car and Telephone Disallowances

Delhi High Court clarifies corporate tax law, ruling companies cannot incur personal expenses and overturning car and telephone disallowances.

Prasenjit Bhowmik June 2, 2026

Tax Tribunal Upholds Sales-Purchase Link, Deletes Bogus Purchase Addition

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Tax Tribunal Upholds Sales-Purchase Link, Deletes Bogus Purchase Addition

Discover how the Tax Tribunal ruled that accepted sales validate linked purchases, preventing 'bogus' additions and stressing documentary evidence.

Prasenjit Bhowmik May 27, 2026

ITAT Bangalore Rules Re-Deposited Withdrawn Cash Not 'Unexplained'

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ITAT Bangalore Rules Re-Deposited Withdrawn Cash Not ‘Unexplained’

Discover how ITAT Bangalore ruled that re-depositing previously withdrawn cash for business expenses isn't unexplained income under Section 68.

Prasenjit Bhowmik May 24, 2026