Prior persons expenses are admissible under law
A sum of Rs. 10,51,176 were disallowed in assessment out of total marketing expenses of Rs. 2,23,24,218 in (2022] 29…
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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
Subsequent year assessment magic
While noting that in the subsequent year the interest cost was allowed in the proceedings completed under section 143(3)…
......Read MoreGratuity fund cobtribution held inadmissible for want of approval of deed of variation
In the absence of approval to deed of variation the contribution made to Employees Group Gratuity Funds held inadmissible in NATIONAL…
......Read MoreEducation for all by all
Here is a labour intensive company in the case reported at (2022] 29 ITR (Trib)-OL 602 (ITAT[Chen]) which has in its…
......Read MoreSFIS credit is a capital receipt
SFIS scheme provides duty credit scrips equivalent to 10 per cent. of foreign exchange earned during a year to service…
......Read MoreSoftware expenditure, whether revenue or capital
Bengaluru is considered as the Silicon Valley of India which consumes bulk of the software purchases. The Karnataka high court…
......Read MoreTravel expenses of family members of employee is personal nature expense
The Tribunal in [2022] 29 ITR (Trib)-OL 127 (ITAT[Del]) held that unless the visit of the family members of the directors had any…
......Read MoreRepairs deduction u/s30 (a) ( (I) to lessee/tenant is absolute
The High Court in (2022] 447 ITR 29 (All) held that renovation of bare shell premises taken for business would…
......Read MoreComputers and IPAD
Computers are entitled to higher depreciation rate. However in the Act no definition of “computer“ can be found. The bench…
......Read MoreSpecific purpose funds earnings non taxable
In the given facts in (2022] 28 ITR (Trib)-OL 110 (ITAT[Chand]) the ADB loans had been taken by the assessee…
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