Home Highlights December 2016 Year 2016 This

You may also like:

1. Allowability of depreciation on shuttering material - he assessee was the owner of the shuttering which was ready to use - Assessee is entitled for 100% depreciation - HC

2. Reopening of assessment u/s 147 - the claim of the assessee has been accepted treating the amount incurred on wooden shuttering and centering, revenue in nature - AT

3. Depreciation on centering and shuttering material - each item of shuttering material cannot be treated as one whole the shuttering material forming one plant eligible...

4. Revenue v/s capital expenditure - , the expenditure incurred by the assessee on conversion of convertible debentures into equity shares has to be treated as capital...

5. Foreign travelling expenses incurred for purchase of Machinery from outside India cannot be treated as Capital Expenditure rather treated as Revenue Expenditure only for...

6. Expenditure of software stock and maintenance charges is required to be treated and / or considered as revenue expenditure and not as capital expenditure - HC

7. Capital Receipt vs Revenue Receipt - Excise Duty refund is to be treated as ‘capital receipt’ in the hands of the assessee and not liable to be taxed - AT

8. Allowable expenditure of "Education Cess” - The Supreme Court set aside the impugned judgment and allowed the appeal of the Revenue, affirming that "Education Cess"...

9. Nature of expenditure - the amount paid by assessee to ITC Limited at the time of termination of the agreement to manage the hotel, ought to be allowed, as a revenue...

10. Assessee is entitled to treat the expenses, incurred by them for upgrading of infrastructure in the government laboratory, as per the directions of the Government, which...