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Income Tax - Highlights / Catch Notes

Home Highlights October 2013 Year 2013 This

Department has no discretion to prescribe what expenditure the ...

Income Tax

October 10, 2013

Department has no discretion to prescribe what expenditure the assessee should incur and in what circumstances he should incur the expenses - HC

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  2. Claim of expenditure - deductin u/s 37(1) - it is not open to the Department to prescribe what expenditure an assessee should incur and in what circumstances he should...

  3. Depreciation on the loss incurred units of CANSTAR or revenue expenditure - The assessee would be entitled to the claim as expenditure incurred in the business - HC

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

  5. If expenditure incurred by the assessee are in the nature of annual maintenance contracts, then such expenditure certainly are in the nature of revenue expenditure - AT

  6. Disallowance of pre-operating expense for a “Mawa Project” - revenue v/s capital expenditure - expenditure incurred for expansion of the dairy business of the assessee -...

  7. Revenue v/s capital expenditure - , the expenditure incurred by the assessee on conversion of convertible debentures into equity shares has to be treated as capital...

  8. The expenditure has been incurred on mobile phones and LCD on which assessee is entitled to claim depreciation - The expenditure are capital expenditure forming part of...

  9. Software expenses - revenue or capital expenditure - real intent and purpose - expenditure incurred by the assessee on software is allowable as revenue expenditure. - AT

  10. Discretion was available to the appellate authority only within the minimum value - reduction in penalty by the lower authority below the minimum prescribed is not...

 

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