Home Highlights September 2013 Year 2013 This

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1. Sales promotion expenses - expenditure with respect to the gold chains being distributed - expenditure allowed - AT

2. Disallowance of the claim for Bad Debts written off - Disallowance of settlement expenditure - In the case of bad debts, the Appellate Tribunal (ITAT) partially allowed...

3. Allowable as business expenses - Small contributions to local people and institution on request of employees and business associates - Section 37 of the Act contemplates...

4. Nature of expenditure - Allowable business expenditure or personal expenditure - education expenses of the daughter - With the logic advanced by assessee, every...

5. CENVAT credit - input service - Business Auxiliary Service relating to sales commission - credit allowed - AT

6. Credit card expenses - the said expenditures were incurred wholly and exclusively for the purpose of business of the assessee as they are related to staff training...

7. Allowable business expenses - There is difference between commencement of the business and setting off of the business. All the expenses incurred pre-commencement are to...

8. Capital gain computation - lease rental expenses are related to the transfer of slump sale business while computing the capital gain u/s 48(1) or not? - The Tribunal...

9. Nature of expenses - Litigation expenses - Revenue or capital expenditure - In the present facts, since assessee has no interest in the ownership of the asset but he is...

10. Revenue expenditure vs WIP - business of Real Estate - expenses not related to the work in progress and debited to the P & L account being administrative expenses and...

11. Interest expenses claim against the interest income received - It is the nature of the business and all the expenditure incurred in earning the income is allowable...

12. Business expenditure u/s 37 -invocation of explanation to section 37 is uncalled for as the assessee has not made any expenses for purchase of diamonds rather entire...

13. Addition of sales tools expenses u/s 37 - the logic given by the coordinate bench equally applies to the sales tool expenses also. The above decision was also followed...

14. Nature of expenditure - expenditure incurred on Research & Development - revenue or capital expenditure - The expression “related to business” is used in section...

15. Nature of expenses - Relaunch expenses - deferred revenue expenditure claimed to the extent of 1/3rd in each of the year -The tribunal disagreed with the AO's...