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Income Tax - Highlights / Catch Notes

Home Highlights November 2017 Year 2017 This

Allowability of Provision towards licence fee for renewal of ...

Income Tax

November 27, 2017

Allowability of Provision towards licence fee for renewal of Excise licence fee - no payment has been made by the assessee to the Government till the due date of filing the return of income u/s 139(1) which has infringed Section 43B of the 1961 Act - expenses not allowed - AT

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  1. Approval of Resolution Plan - Renewal of lease of land - clearance of past dues - It is also not in doubt that required approvals have to be given by the concerned...

  2. Corporate membership fees - revenue in nature or capital? - no reason why the renewal membership fees should not be allowed as revenue expenditure - HC

  3. The expenditure incurred by the assessee towards royalty and fee for technical assistance in pursuance of the licence agreement were revenue expenditure and not capital...

  4. Renewal of Customs Brokers License – Rejected – The conduct of appellant clearly amounts to suppression of material information required to be furnished by respondent...

  5. Rejection of application for renewal of license - Whether the appeal against the order of Commissioner of Customs for rejection under Regulation (11) of CHA 2004 would...

  6. Nature of software expenses - these are towards payment for renewal of software which the assessee was using for client deliverables - software expenses are revenue in...

  7. Adjustment of refund sanctioned towards the pending arrears in terms of Section 11 of the Central Excise Act, 1944 - amounts cannot be appropriated towards the Revenue...

  8. Rejection of Custom Broker application for renewal of license - if there are multiple instances of complaints of misconduct of a Custom House Broker, the renewal of...

  9. Allowability of excise duty refund u/s 80IB - There is an inextricable link between the manufacturing activity, the payment of central excise duty and its refund -...

  10. GST on license fee charged by the States for grant of Liquor licences to vendors

 

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