Expenses to defend disciplinary proceedings , defamation cases etc.
The case before Madras High Court in [1976] 104 ITR 458 (Mad) pertained to a company which paid to its…
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Club expenditure ......Read More
Yesterday's Profiteering is not permissible in the field of professional/educational courses ......Read More
Yesterday's Profiteering is not permissible in the field of professional/educational courses ......Read More
Renovation of convention centre
In [2023] 21 ITR-OL 613 (Ker) hotel meridian spent Rs. 7,13,89,107 for full scale renovation of their Convention Centre which has been…
......Read MorePiara singh case no longer a good law
In the well known case of piara singh the asessee was found to be in the business of smuggling of…
......Read MoreBrand valuation before conversion of partnership firm into private limited company
In [2022] 29 ITR (Trib)-OL 602 (ITAT[Chen]) the assessee company is held eligible for claim of depreciation on brand value…
......Read MoreLoss from Writing off investments in subsidiary to promote top line is admissible under law
Where the assessee company makes investment in its 100 per cent. subsidiary for extension of business marked by additional capacities in…
......Read MoreCapital vs revenue – whether treatment in accounts can be the deciding factor!
Having capitalised an expense in the books there could arise a difficulty to further claim it deductible expenditure u/s37. In…
......Read MoreAbuse to “ease of doing business”policy of GOI- contempt case
A ruling of the tribunal in Flipkart Online Services Pvt. Ltd. Case (2018] 92 taxmann.com 387 (Bangalore – Trib.)/[2018] 64…
......Read MoreDirectors bonus payments
The Delhi High Court in (2023] 451 ITR 389 (Del) in a private company case held that there is no bar…
......Read MoreBudget 2023 Interest free borrowing transactions now taxable
Under section 2(24) (vd) of the Income tax Act , 1961, income would include the value of any benefit or…
......Read MoreMembership/Entrance fee receipts are tax exempt——department slp dismissed by Supreme Court
The Supreme Court has dismissed the special leave petition filed by the Department against High Court decision @ [2023] 450 ITR…
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