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 February 2017 Year 2017 This

Nature of contribution to another institution - nothing was ...

Income Tax

February 10, 2017

Nature of contribution to another institution - nothing was brought on record to highlight, how the assessee has got the benefit either in this year or in the future or any benefit to the overall benefit to the organisation as a whole. There has to be some benefit directly or indirectly to the organisation - Cannot be allowed as expenditure u/s 37(1) - AT

View Source

 


 

You may also like:

  1. E-connectivity charges are revenue in nature as they do not result either in the acquisition of software by the assessee or in any enduring benefit to the assessee

  2. Discounting the maturity value of loan portfolio on assignment to commercial banks - amount of discounted future interest received by assessee during the year is taxable...

  3. Deduction u/s 80IC - existence of multiple “initial assessment years” - AO has simply misunderstood the amendment brought u/s. 80IC and further misunderstood “the...

  4. Educational Institution or not - introduction of the IIM Act wef 31/01/2018 - The Applicant is an ‘educational institution’ - Benefit of exemption is available to the applicant.

  5. Quota written off - Licence / quota which was for a limited period of three years - though assessee had obtained enduring benefit, held as revenue in nature - AT

  6. Reopening of assessment - accommodation entries - nothing concrete was brought on record to substantiate that the assessee received any entry or made payment for...

  7. Nature of assessee – simply because the students have to read the Quran and do prayers and have specific dress code, it cannot be said that it is not an educational...

  8. Speculation Loss - Trading in future and options - the amendment cannot be held as curative in nature or for that reason has a retrospective effect - HC

  9. Exemption from duty of customs - import of Lithium Ion Cell (Captive Consumption - For LED) - Emergency LED Light is fundamentally a type of LED light, albeit a...

  10. Legality of approved Resolution Plan - Since FSP is a different nature of company than a normal Corporate Debtor, where in thousands, Lakhs of Small Investors invest...

 

Quick Updates:Latest Updates