Home Highlights November 2014 Year 2014 This

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1. Nature of expenses - legal and professional expenses and other expenses defending the directors and their relatives - The expenses incurred even for defending the...

2. Allowablity of Legal expenses u/s 37 - defending company & MD in criminal proceedings - since the Hon’ble Supreme Court has quashed the entire proceedings against the...

3. Import of services - reverse charge - payment of arrangement fees, underwriting fees, agency fees and legal fees as also out of pocket expenses - demand of service tax...

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

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

6. 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...

7. Offences punishable u/s 276C(1) & 277 - jewellery found during search - adjudication proceedings and criminal prosecution are inter-dependend or not - The High Court...

8. Validity of prosecution proceedings under GST - fake invoices - In view of the scheme of the Act, this Court has no hesitation to hold that in the cases of present...

9. Disallowance of 20% of Legal & Professional Fees paid - authorities have not identified, if the payments made to related party is unreasonable - Legal & Professional...

10. Professional charges paid for defending criminal case against an employee committed as a person in personal capacity is not allowable as deduction u/s 37

11. 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...

12. Disallowance of the expenses claimed on account of employees benefit expenses - AO making the disallowance on the ground that assessee has claimed the expenses basically...

13. Nature of expenditure - expenses incurred on account of professional and legal fees - The expenses are not incurred for exploring the market for a new product and rather...

14. TDS u/s 195 - TDS on overseas payment - Annual Payment made to the international boards through affiliation with IBO, Cambridge etc. under the head authorization fee,...

15. Where criminal proceedings ended in acquittal but simultaneous departmental proceedings continued, the result of the criminal proceedings will not have any bearing on...