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Income Tax - Highlights / Catch Notes

Home Highlights June 2015 Year 2015 This

Community development expenditure - business is not static and ...

Income Tax

June 23, 2015

Community development expenditure - business is not static and over a period of time, it would include within its fold the care and concern for the society at large which would result in a goodwill being created in its favour leading to better business - expenditure allowed - HC

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  1. Contribution made to Tata Steel Rural Development Society - since the major beneficiaries of the expenditure were the company’s employees, it was an item of labour...

  2. Periphery Development Expenses - Disallowance of expenses as only objection raised by the ld. AO is that some of the expenditure debited by the assessee cannot be termed...

  3. Research and Development expenditure i.e. G.E.Linear Development Expenditure, Eaton Project Development - the expenditure did not reflect that any new capital asset had...

  4. Product Development Expenditure incurred in the ordinary course of business for promoting existing brands, sustaining market and to push up the sales is Revenue expenditure

  5. Transfer of fund for subsequent distribution to the members before payment of tax is not a 'deductible expenditure' in computation of business income of the Assessee-Co-...

  6. Disallowance of expenses u/s 37(1) by the CPC - Associateship fees paid to Mumbai Cricket Association - Membership of the employees of the company including Chairman and...

  7. Addition of community development expenditure by observing that this expenditure is not related to the business activity of the assessee - In assessee’s case has...

  8. Development of software - a revenue expenditure or capital expenditure? - only a revenue expenditure - HC

  9. Nature of expenditure - revenue or capital expenditure - One-time lease rental charges paid to Greater Noida Industrial Development Authorities (GNIDA) for a period of...

  10. Software development expenditure which was application software was revenue in nature - deduction allowed u/s 37.

 

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