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 October 2015 Year 2015 This

Nature of expenditure - There is a clear finding of fact by the ...

Income Tax

October 17, 2015

Nature of expenditure - There is a clear finding of fact by the Tribunal that the legal expenses incurred by the Assessee were for protecting its business - High Court was not justified in upsetting a finding of fact arrived at by the Tribunal, particularly in the absence of a substantial question of law being framed in this regard - SC

View Source

 


 

You may also like:

  1. Valuation - Reimbursement Expenses - Legal position is clear that expenses actually incurred and reimbursed by service recipient are not to form part of assessable value...

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

  3. Nature of expenditure - expenses incurred on account of professional and legal fees - The expenses are not incurred for exploring the market for a new product and rather...

  4. Disallowance of consultancy charges incurred on designing and implementation of TDS and other systems - nature of expenditure - it is quite clear that it is revenue...

  5. Disallowance of leasehold improvement expenditure - the repair expenses incurred by the assessee, which have been termed as leasehold improvement, are revenue...

  6. Nature of franchise expenses – it was not an expenditure incurred for acquisition of source of profit, but enabled the assessee to run the business profitably - held as...

  7. Nature of expenses – Capital OR Revenue – GPA registration charges - The entire expenditure is completely revenue in nature since it is incurred for carrying out the...

  8. Expense incurred upon construction of the drain for release of effluents have conferred benefit of an enduring nature upon the assessee - held as capital expenditure and...

  9. Software consumable expenses – The expenditure was incurred for application software and not for system software – The software was not of enduring nature and would...

  10. Expenses incurred for reconditioning of over aged buses – body, engine of the buses are not replaced, but it is only repairing of ware and tare - expenditure are revenue...

 

Quick Updates:Latest Updates