Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2015 Year 2015 This

Expenditure claimed under the head “provision towards SOBM and ...

Income Tax

August 26, 2015

Expenditure claimed under the head “provision towards SOBM and drill cutting disposal expenses” - the said provision is offered as income in the succeeding year in the form of reduction of corresponding expenditure - claim is tax neutral in nature - deduction allowed - AT

View Source

 


 

You may also like:

  1. Claim of interest expenditure - during earlier years interest was capitalized as work in progress towards acquisition of property - later transaction could not...

  2. Grossing up of the expenditure with TDS amount for claiming deduction - Non reimbursable tax paid to Master Cards/Visa Cards included under the head “Operating Expenses“...

  3. Prior period expenditure cannot be disallowed simply by observing that it is not ascertainable whether this expenditure was incurred for earning a particular receipts...

  4. Addition made towards interest expenses claimed - assessee derived income from letting out the properties i.e. rental income, which has been shown as income from...

  5. 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...

  6. Adjustment of arm's length price - There is no reason to change the head of expenses from advertisement expenditure to business promotion expenditure - AT

  7. Classification of imported goods - Raw Jute cutting grade imported by the appellant from Bangladesh through LCS Petrapole - to be classified as raw jute cutting grade...

  8. Disallowance of the claim incurred towards fees paid to Babson College, USA, for a management trainee - expenditure could not be treated as research & development...

  9. Capitalization proportion of the the general, administrative expenses, including on employee and director remuneration, toward workin- progress (WIP) - different...

  10. 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...

 

Quick Updates:Latest Updates