Home Highlights October 2014 Year 2014 This

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1. Nature of software expenses - these are towards payment for renewal of software which the assessee was using for client deliverables - software expenses are revenue in...

2. TDS u/s 194C or 194I - default u/s. 201(1) - short deduction of TDS - Payment of common area maintenance charges (CAM charges) - the payments made towards CAM charges...

3. Nature of expenses - Allowability of Penal Interest paid to NOIDA - CIT(A) correctly allowed the assessee to capitalize the interest paid by the assessee to Noida...

4. Capital gain computation - Allowability of transfer expenses [brokerage, air tickets, hotel accommodation receipts, postal charges receipts, conveyance charges, lawyer...

5. Nature of expenses - Allowable expenses u/s 37(1) - Interest and late fee on TDS, Late payment & penalty charges, Interest on margin trading facility - There was no...

6. Addition towards office rent and office maintenance charges - apportionment of expenses to the sister concerns and group companies - When all the assessee's sister...

7. MAT u/s 115JB - The findings of the ld.CIT(A) holding the impugned expenses to be not in the nature of prior period expenses, but confirming the adjustment made to the...

8. Revenue expenditure - interest expenses towards delayed payment of EDC external Development Charges to HUDA - - Not to be held as penal in nature u/s 37(1) - the...

9. Valuation - C&F agent service - inclusion of reimbursement of expenses - charges collected for activities like loading, unloading, etc are includable in the assessable...

10. Business and Promotion expenses - The expenditure incurred by the assessee towards, Bangalore Orthopaedic Society – Conference for practical use of products and Payments...

11. Addition towards ROC expenses - section 35D provides amortization of certain expenses, which are in the nature of capital/intangibles/preliminary expenses, which have...

12. Disallowance u/s 40(a)(ia) - TDS u/s 194C - payments towards the hiring charges of cranes - a simpliciter payment towards hiring charges of cranes cannot be brought...

13. Nature of surrendered income - Claim of deduction under Section 80HHC on account of export - HC

14. When the assessee incurred expenses towards consultancy charges in order to make investment, the Assessing Officer was not justified in treating and considering the...

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...