Home Highlights November 2013 Year 2013 This

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1. Deletion of addition of advertisement expenses – AO erred in holding that the advertisement expenses as deferred revenue expenses is not valid in the eyes of law - AT

2. Expenses incurred during the year on account of advertisement and publicity - here is no concept of deferred revenue expenditure in Income-tax laws. The genuineness of...

3. Disallowance of advertisement expenses - bills received of the said expenses is of April and May 2008 - There is no dispute that the assessee is following Mercantile...

4. Deferred Revenue expenditure disallowance - The advertisement and sales promotion is the necessity of the business and thus, an integral part of the business activity....

5. Disallowance of Advertisement expenses u/s. 37 - the assessee had treated the aforesaid expenses as capital work in progress - advertisement expenses were almost 4 times...

6. Addition under the head of Vehicle Running Expenses and Repairs & Maintenance - "exaggerated expense' or "not reasonable expense". - The onus is on the Revenue to...

7. Nature of expenses - Relaunch expenses - deferred revenue expenditure claimed to the extent of 1/3rd in each of the year -The tribunal disagreed with the AO's...

8. Disallowance of advertisement expenses paid - the assessee is running a dealership business and incurring of advertisement expenses does not arise. CIT(A) after...

9. Disallowance of travelling expenses - AO while disallowing the expenses has noted that the expenses were incurred on account of trip by cruise ship by director and his...

10. Disallowing the expenses on the reasoning that corresponding income was not offered to tax - matching principles of the accounting treatment - part of the activity of...

11. Addition on account of purchase of data packages on the ground that the same amounts to deferred revenue expenditure - when the incurrence of such expenses are...

12. Deduction u/s 80IB on account of disallowance of R&D expenses - A.O. Has made this disallowance holding that the profits of the appellant were overstated on account of...

13. Disallowance of building renovation expenses – Capital or revenue expenses - the expenses are to be treated as revenue in nature and allowable u/s 37(1) of the Act - AT

14. Allowable business expenses/loss - compensation expenses attributable to unsold part of land - There is no concept of deferred revenue expenditure in tax laws. If the...

15. Deduction u/s 10A - Adhoc disallowance of professional expenses, electricity charges and miscellaneous expenses - It is not in dispute that the aforesaid administrative...