Home Highlights August 2016 Year 2016 This

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1. Allowability of expenditure - Where the expenditure is relatable to day to day running of the business, the said expenditure is allowable as revenue expenditure in the...

2. Disallowance of proportionate cost of land out of solid waste tank expense – cost of land debited by the Assessee in Profit and Loss account is not allowable as revenue...

3. Disallowance of “Scholarship Expenses” - Expenses claimed under the head ‘Assistance to Law Students’ - The expenditure incurred by the assessee is the routine...

4. Allowable expenditure - salaries paid to the employees of the Department of Urban Estates on account of transfer of functions overtaken by the HUDA - In the absence of...

5. Nature of expenditure - Lease hold improvement expenditure - expenses incurred on design and technical consultancy towards improving the exisiting product in the same...

6. Disallowance on account of depreciation claimed on the cost incurred in relation to the land being non depreciable asset - To our understanding, the impugned expenses...

7. Pharmaceutical companies’ gifting freebies to doctors, etc. - whether Allowable Business expenditure under Section 37(1)?

8. The key issue relates to the classification of the cost of silt as capital or revenue expenditure. The Assessing Officer (AO) treated it as capital expenditure and...

9. Nature of expenditure - Revenue expenditure or capital expenditure - The ITAT held that, it is now well settled that revenue expenditure is allowable in entirety in the...

10. CENVAT credit - marine insurance service - insurance for directors and supervisory officers arising in day-to-day functioning - credit allowed - AT

11. CSR expenditure - whether a allowable business expenditure? - explanation to Section 37(1) of the Act would not be applicable as it was with effect from the assessment...

12. TP Adjustment - Disallowance of expenditure u/s 40(a)(ia) - any expenditure not for the purpose of business, the A.O. can certainly re-characterize the same as not...

13. Expenditure on Depository Services and Dematerialisation of share certificates - the expenditure was allowable as normal business expenditure - HC

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

15. Medical expenditure - Revenue or personal expenditure - Death due to cancer during shooting of a film in US - Held as allowable expenditure.... - AT