In the case of an assessee company, which is engaged in the ...

Income Tax

January 4, 2014

In the case of an assessee company, which is engaged in the business of Life Insurance, the expenditure incurred with regard to increase in share capital is allowable as deduction by treating it as revenue in nature- AT

View Source

← Previous Next →

In the case of an assessee company, which is engaged in the ...

Income Tax

January 4, 2014

You may also like:

Determination of income u/s 44 - Taxing the income arising on account of shareholders profits - where the assessee company was engaged only in life insurance business...

Expenses of Group Companies - Can a deduction be allowed for the expenditure incurred by appellant to meet the liability of the another company and for the debts written...

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...

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...

Disallowance of key man insurance premium paid - it is not known how the payment of ₹ 10 lakhs towards premium is going to protect the assessee-company from...

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

Disallowing claim of expenditure - non-carrying of business activity during the year under reference - The case involved an appeal by an assessee against the...

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...

Levy of Service Tax - Life Insurance Services - The phrase “any person” cannot be read in isolation, but will have to be read along with the entire definition as per the...

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...

Claim of Expenditure on hawala business - Assessee also did not submit any proof of incurring any expenditure. Income was also not assessed on net basis @ 0.30 %. No...

Allowability of expenses of abundant project - there is no allegation that the expenditure incurred by the assessee is capital in nature - It is also not the case of the...

Penalty u/s 271-D and 271-E - accepting loan in cash from the director of the company - The tribunal held that, the assessee`s case under consideration the transactions...

Disallowance u/s 36(1)(iii) - claim of interest expenditure - The companies GIL and CNIL are subsidiary companies, which clearly indicates that the investment made by...

Disallowance of goods lost due to fire - addition invoking section 29 - Moment the insurance Co determines the loss in terms of the insurance policy obtained by the...

Quick Updates: