Home Highlights January 2015 Year 2015 This

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1. Exemption u/s 11 - claiming benefit of accumulation u/s 11(2) over deemed income u/s 11(3) - non application of income - the assessee should not be eligible to claim...

2. Perquisite in lieu of salary u/s 17(2)(iii) - difference in value between stamp duty valuation and actual sale value - Merely because the assessee happens to be a...

3. Research and Development expenses (R&D Expenses) - Allowability of expenses u/s 35(2) - The expenses are not covered u/s 35(2) - The assessee has not claimed the same...

4. Disallowance of medical expenses incurred on treatment of one of the Director - The assessee was required to deduct tax at source on the said amount of perquisite, which...

5. Disallowance u/s 40A (2)(b) - payment of higher salary to the Directors - When a Company pays higher salary to the Directors of the Managers or other Officers or...

6. Claim of relief u/s 89 - receipt of arrears in lieu of employer's contribution to the newly implemented 'Defined Contribution Scheme' - Section 17(2)(vii) of the Act...

7. Non-compete fees receipt - taxability under Section 17(3)(iii) or 28(va) as salary income or business income or not - profit in lieu of salary - assessee is an...

8. Assistant Director, who is also a complainant can file appeal before the Special Director under Section 17(2)of FEMA Act - HC

9. Tax paid by the employer on the salary/remuneration of the employee - Section 17(2) - such payment was to be excluded from the income of the employees - AT

10. Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

11. Disallowance of the expenses claimed on account of employees benefit expenses - AO making the disallowance on the ground that assessee has claimed the expenses basically...

12. Additions (Benefit) u/s 28(iv) - Expenditure incurred by the HO for salary paid to the expatriate employees for rendering services to PE - The tribunal upheld the...

13. TP adjustment on account of reimbursement of seafarer expenses - Revenue has only doubted the genuineness of the alleged reimbursement of expenses made by the assessee...

14. Disallowance of salary expenses u/s 40A(2)(b) to relatives of the Directors - AO cannot sit on the arm chair of the assessee-company`s Board of Directors and decide that...

15. Meaning of the term "Chief Commissioner" extended to include Director General of Income-tax and Principal Director General of Income-tax - Section 2(15A) of the...