Home Highlights March 2016 Year 2016 This

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1. Claim of deduction u/s. 35AD by stating that the appellant did not build the hotel building - Once deduction u/s.35AD of the Act is claimed then by virtue of section...

2. Deduction u/s 35AD and set off u/s 73A against the loss incurred by it in other unit - Loss of assessee on account of a specified business claiming deduction u/s 35AD...

3. Revision u/s 263 - claiming business expenditure while claiming standard deduction in the rental income - No doubt assessee has claimed the voluntary expenditure under...

4. Deduction u/s 80IA on the enhanced expenditures made to sub-contractors - The issue of the claim of higher deduction on the enhanced profits has been a contentious one....

5. Deduction u/s.35 AD(5)(aa) - whole of capital expenditure incurred for purpose of development of hotel claimed - We restore the issue to file of the Assessing Officer...

6. Expenses of Group Companies - Can a deduction be allowed for the expenditure incurred by appellant to meet the liability of the another company and for the debts written...

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

8. Weighted deductions claimed u/s 35(2AB) - The petitioner challenged the restriction of the eligibility period for weighted deductions on R&D expenditure, contending it...

9. Deduction u/s 35(2AB) - Expenditure which was not eligible for weighted deduction u/s 35(2AB) - scientific research and development expenditure - such R&D expenditure...

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

11. Disallowance of AMP expenditure u/s 37(1) - Revenue expenditure or capital expenditure - advertising and promotion of liquor in India - ITAT has held that the AMP...

12. Deduction allowable u/s 36 (1)(iii) - assessee has not commenced any business activity and no deduction is allowable u/s 36 (1) (iii) in respect of interest expenditure...

13. Short deduction of tax at source over and above the amount specified in the lower TDS certificate - scope of certificate issued u/s 197 - if the assessee continues to...

14. Expenditure of ESOP - Expenditure in question was wholly and exclusively for the purpose of the business of the assessee and had to be allowed as deduction as a revenue...

15. Product Development Expenditure disallowed - there is no distinction as to whether the expenditure incurred is capital or revenue, because while the provisions of...