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Income Tax - Highlights / Catch Notes

Home Highlights November 2013 Year 2013 This

Expenditure of ESOP - Expenditure in question was wholly and ...

Income Tax

November 5, 2013

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 expenditure - AT

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  2. The expenditure made for construction/acquisition of new facility subsequently abandoned at the work-inprogress stage was allowable as incurred wholly or exclusively for...

  3. Payment of legal fees and expenses towards defending in a criminal prosecution not allowable as business expenditure because the same was not expended wholly and...

  4. Claim on corporate social responsibility – Expenses incurred wholly and exclusively for the purpose of business - upliftment of the Adivasis in the locality - claim...

  5. Disallowance with respect to expenditure on ESOP u/s 37 - the expenditure in question is wholly and exclusively for the purpose of the business of the assessee and the...

  6. Claim of deduction u/s 48(i) - deduction of expenditure incurred wholly and exclusively in connection with the transfer of shares - whether the expenditure is incurred...

  7. Expenses, which were not incurred wholly and exclusively for the purposes of earning the income from other sources, cannot be allowed deduction u/s 57.

  8. Disallowance of payment towards Energy conservation Contribution expenses - the assessee has incurred expenses wholly and exclusively for business purposes - AT

  9. Disallowance of land development charges - onus is on the assessee to establish on evidence that the land development expenses were incurred wholly and exclusively for...

  10. Genuineness of Commission paid to Directors - the payment commission by assessee company is wholly and exclusively for business purposes and same is allowable - AT

 

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