Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...
Corporate Law : Discover the process and types of trademark assignment. Learn about procedures, required documents, and benefits for a smooth tran...
Goods and Services Tax : Explore the critical implications of Section 16(4) of the CGST Act, 2017 on taxpayers' Input Tax Credit (ITC) eligibility and the ...
Income Tax : Explore statutory interpretation of Section 37 under Income Tax Act, the meaning of expenditure, and the difference between busine...
Income Tax : Explore the landmark ITAT Chennai 2016 ruling on CWIP expense write-off in Faurecia Emissions vs. DCIT, highlighting evolving lega...
Corporate Law : Explore the proposed amendments to Regulations 35, 37, and 50 of the Competition Commission of India (General) Regulations 2009. L...
Income Tax : Allowability of Interest paid under Incometax Act, 1961: Presently, interest paid by the Government to an assessee is chargeable t...
Income Tax : ITAT Hyderabad held that CIT(A) without examining the historical/ empirical data of expenditure incurred by the assessee for recti...
Income Tax : ITAT Ahmedabad held that disallowance of interest under section 14A unjustified as assessee’s own funds are far in excess of the...
Income Tax : The payments, totaling INR 15,59,64,867 for technical assistance and INR 1,99,57,161 as royalty on sales to associated enterprises...
Income Tax : Detailed analysis of Ramanlal Jivrajbhai Patel vs ITO case from ITAT Ahmedabad. Learn about judgments on business expenditure unde...
Income Tax : Explore the case of Pipelic Energy Software India Pvt Ltd Vs DCIT at Telangana High Court. Detailed analysis on why subsidiary exp...
ITAT Delhi ruling in Maral Overseas Ltd Vs DCIT, asserting that Education cess is non-deductible as an expenditure under Sections 37 and 40(a)(ii) of Income Tax Act.
ITAT Mumbai held that foreign travelling expenses in respect of spouses who accompanied on official tour with some of the company employees is allowable expenditure.
ITAT Delhi held that business promotion expenditure incurred for improving the visibility of the brand and sale of the products is routine expenses incurred during the course of the business. Accordingly, the same is allowable expenditure.
Andhra Pradesh High Court held that as the petitioner is a Chartered Accountant by profession and it is his first offence and he has been in jail since long. Accordingly, continuance incarceration of the petitioner is not justified. Hence, bail granted.
ITAT Bangalore held that expenditure towards Employees Stock Option Plan (ESOP) is allowable deduction u/s 37 of the Income Tax Act.
Madras High Court held that the object of Section 80 of the Tamil Nadu Goods and Services Tax Act, 2017 (TNGST) is only to benefit an assessee who has been complaint in effecting payment of the admitted tax. Benefit of section 80 not available in case of amount due as per the liability self-assessed in any return.
Asuda Holdings Private Limited Vs CIT (ITAT Mumbai) ITAT Mumbai held that there is a clear diversion of funds for non-business purpose as funds are borrowed @18% and lended the same to one of its directors at 13.5%. Accordingly, disallowance under section 36(1)(iii) sustained. Facts- AO observed that assessee has taken loan from M/s. Elevators […]
ITAT Bangalore held that Comparable Uncontrolled Price (CUP) is the most appropriate method for determining the Arm’s Length Price of the assessee for the importing of goods for manufacturing segment.
ITAT Ahmedabad held that payment of interest towards compromise agreement was not made towards any infraction of law and therefore, the same is allowable under section 37 of the Income Tax Act.
ITAT Delhi held that expense on Social & Rural Development Programme are revenue in nature, accordingly, allowable under section 37
