Home Highlights June 2018 Year 2018 This

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1. Expenses on account of construction - Charitable Trust - the assessee started the construction activity in earlier years i.e. A.Ys. 2010-11, 2011-12, 2012-13 & 2014-15...

2. Addition on payment made through credit card - CIT(A) have considered the fact that some personal expenditure could also have been incurred by the assessee, so the...

3. Whether the introduction of the new, comprehensive definition of “credit card, debit card, charge card or other payment card service“ vide section 65 (33a) read with...

4. Nature of expenditure through credit card - The bank statement, produced by it before the AO indicates the expenditure incurred but it does not prove the fact of...

5. Revenue expenditure versus capital expenditure - expenditure incurred on ERP Software – allowed as revenue expenditure - AT

6. Ad-hoc disallowance at the rate of 10% on credit card expenses - Prima Facie the said disallowance is ad-hoc in nature. AO ought to have made reference to any of such...

7. Disallowance of business promotion expenditure to the extent of 50% - The employees and Directors of the assessee company would incur the expenditure in their credit...

8. Levy of IGST - credit card services - interest component of the Equated Monthly Instalments (EMI) of the loan granted by the respondent Bank on credit card - he services...

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

10. Disallowance of expenses when the business was not fully functional - - Nowhere in the order of the AO there is a whisper as to how the expenditure is excessive and how...

11. Non-deduction of tax u/s 194C – The expenditures were incurred towards greeting cards, stationery, visiting cards, calendars, registers, etc - being a sale and purchase...

12. Nature of expenditure - Revenue expenditure or capital expenditure - expenditure incurred by the Appellant for raising floor height of Godown - The expenditure so...

13. 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...

14. Disallowance of expenditure towards development of property - no supporting bills of expenditure were provided - CIT(A) has allowed on ad hoc basis only 40% of the...

15. Nature of expenditure - Revenue expenditure or capital expenditure - The ITAT held that, it is now well settled that revenue expenditure is allowable in entirety in the...