Expenditure has clearly being incurred by the assessee on ...

Expenditure for Share Capital Not Allowable as Revenue u/s 37(1); Section 35DD Claim Disallowed.

July 14, 2014

Case Laws Income Tax AT

Expenditure has clearly being incurred by the assessee on capital account for the purpose of share capital- the expenditure cannot be allowed as a revenue expenditure u/s 37(1) as it is a capital expenditure - claim u/s 35DD also disallowed - AT

View Source

← Previous Next →

Expenditure has clearly being incurred by the assessee on ...

Expenditure for Share Capital Not Allowable as Revenue u/s 37(1); Section 35DD Claim Disallowed.

July 14, 2014

Case Laws Income Tax AT

You may also like:

The Commissioner of Income Tax (CIT) invoked Section 263 to revise the Assessing Officer's (AO) order, disallowing the amount paid on termination of an agreement,...

Allowable revenue expenditure u/s 37(1) - Writing off of advance given to the Director - waiver of excess remuneration paid to the Director - The provisions of Section...

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...

Assessee followed joint venture model for sharing revenue with collaborators as per franchise agreement. Assessee recorded all revenues, incurred expenditure, and shared...

Addition u/s 37(1) - non-competition fee - revenue or capital expenditure - it does not bring in any capital asset - the payment is allowable u/s 37(1) - HC

Revenue expenditure or capital expenditure - Section 37(1) - Disallowance on account of expenditure incurred for CDR - The CDR contains several waivers and modifications...

Revenue expenditure or capital expenditure - Allowability of expenses on acquisition of clientele and technical human resource i.e., employees to execute the contract -...

Business expenditure u/s.37(1) - share issue expenses - assessee has abandoned the proposal to issue shares at later stage - when the nature of expenditure incurred by...

Nature of expenditure - assessee itself has capitalized in the financial statements to the expenditure incurred but the assessee has claimed it as a revenue expenditure...

ITAT upheld CIT(A)'s decision allowing deduction of Finance Lease Rental Payments under section 37(1) as revenue expenditure. Revenue's appeal challenging depreciation...

Rental deposits written off - allowable revenue expenses u/s 37(1) - The assessee could not occupy the property since the required permission was not taken by the owner...

Nature of stamp duty paid in relation to the leased business premises - Revenue or capital expenditure - lease was for a period of 10 years - The same is not a deferred...

The High Court's judgment addressed the interpretation of Section 43A regarding losses arising from exchange rate fluctuations on foreign currency loans utilized for...

Claim of expenses disallowed u/s 37(1) - expenditure/loss incurred on abandoned project – for the first two years the expenditure is shown as “work-in-progress” - claim...

The Appellate Tribunal considered the disallowance of advance written off as an expense u/s 36(2). The Assessing Officer argued it should be allowable u/s 37 due to a...

Quick Updates: