Home Highlights September 2017 Year 2017 This

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1. Disallowance of membership fee paid to club u/s. 37 - unless assessee demonstrate with relevant evidences that subscription fee paid to club, is for the purpose of...

2. Disallowance of interest expenditure - alleging that the assessee was unable to establish that the interest expenditure was incurred for the purpose of business - The...

3. Genuineness of expenditure paid to Doctor - ITAT placed an unfair burden on the Assessee to prove that the above expense was incurred bonafide for the business purposes...

4. R&D expenses incurred for partnership firm - Since the assessee is holding 97.5% of share in the partnership firm, SPI it becomes the duty of the assessee to promote the...

5. Addition u/s 68 - unsecured loans - addition only on the basis of the information received from the Investigation Wing ignoring - the investing company has sufficient...

6. The onus is upon the assessee to establish that the money was borrowed for the purpose of business - assessee failed to prove the onus - Claim of Interest disallowed - AT

7. Once the assessee has discharged the initial onus to prove that the deduction is allowable, the onus to prove that the deduction is not admissible, shifts to the tax...

8. Nature of expenditure incurred towards research and development - The fact that the expenses incurred by the assessee towards research and expenses have been met out of...

9. Business expenditure u/s 37 - Word ‘wholly’ refers to quantum of expenditure and word ‘exclusively’ refers to motive, object and purpose of the expenditure. Personal...

10. Remittance from outside India - revenue v/s capital receipt - onus to prove - assessee could not discharge his onus and could not prove that the money has come out of...

11. Revision u/s 263 by CIT - Wrong claim of business expenditure - Since the assessee failed to prove the nexus between the interest income and expenditure incurred, the...

12. Business expenditure u/s.37(1) - share issue expenses - assessee has abandoned the proposal to issue shares at later stage - when the nature of expenditure incurred by...

13. 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...

14. Addition u/s 68 - unexplained cash credits - Onus to prove - CIT(A) deleted addition - The Tribunal found that the assessee failed to discharge its onus of proving the...

15. Addition u/s. 40A(2)(b) - payment made for getting sales lead from related party - neither furnish details of such sales leads nor details of business actually generated...