Home Highlights December 2011 Year 2011 This

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1. Expenses on advertisement - creation of brand value - capital or revenue in nature - it has been rightly treated by it as revenue expenditure, admissible u/s.37(1) of...

2. Interest expenses - section 36(1)(iii) - It is immaterial whether the assessee had utilized the money for capital or revenue purpose - HC

3. Advertisement and marketing expenses – Trading expenses or not - very year, the assessee has been incurring substantial expenditure on advertisements - It is an...

4. Deletion of addition of advertisement expenses – AO erred in holding that the advertisement expenses as deferred revenue expenses is not valid in the eyes of law - AT

5. Disallowance of Advertisement expenses u/s. 37 - the assessee had treated the aforesaid expenses as capital work in progress - advertisement expenses were almost 4 times...

6. Bond issue expenses - Capital or revenue in nature - held as revenue expenditure - AT

7. Allowance of hoarding expenses - capital expenditure or revenue expenditure - deduction on account of hoarding expenditure being in the nature of revenue expenditure allowed - AT

8. Disallowance of pre-operating expense for a “Mawa Project” - revenue v/s capital expenditure - expenditure incurred for expansion of the dairy business of the assessee -...

9. Software expenses - revenue or capital expenditure - real intent and purpose - expenditure incurred by the assessee on software is allowable as revenue expenditure. - AT

10. Disallowance towards interest expenses incurred on term loans - The loan having been utilized for acquisition of capital asset in the earlier years is thus not an...