The Supreme Court clarifies the distinction between a bank guarantee and a contract of indemnity in State Bank of India vs. Mula Sahakari Sakhar Karkhana case.
Supreme Court disallows ₹10 crore bad debt deduction for Khyati Realtors Pvt Ltd, ruling it as capital expenditure, not eligible for deduction under Section 36(1)(vii).
Learn about disallowed expenses under PGBP in India’s Income Tax Act. Understand key sections like 37, 40, and 40A, and their impact on business deductions.
