Income Tax - In the recent past a litigated issue is ‘Donations given towards CSR Expenses and its allowability as deduction U/s 80G’. The question whether contributions made under CSR are eligible for deduction u/s 80G of Income tax 1961 or not, is compounded further by The Ministry of Corporate Affairs (MCA) General Circular No. 14 /2021...
Income Tax - After the decision of SC in Check mate Services Pvt. Ltd. vs. CIT order dated 12.10.22, the legal position is now settled that the delayed deposit of employees contribution shall be held as deemed income u/s. 2(24) of the income tax act....
Income Tax - Section 37(1) of the Income Tax Act – Disallowance for Freebies to Doctors as the same is an Offence & Prohibited by Law If an assessee during the course of business & profession incurs certain expenditure, which is an offence or which is prohibited by law, the said expenditure shall be disallowed while computing his [&helli...
Income Tax - In general practice freebies although being prohibited are provided to medical professionals by pharmaceutical companies and diagnostic centers to induce them to prescribe their medicines and tests which are higher in price than their generic alternatives. This practice of acceptance of freebies was disallowed through a circular issued on...
Income Tax - It is a routine practice that Pharmaceutical and health sector companies provide freebies such as hospitality, conference fees, gold coins, LCD TVs, fridges, laptops, etc. to medical practitioners for creating awareness about the health supplement ‘ABC’....
DCIT Vs Agni Estates & Foundations Pvt.Ltd (ITAT Chennai) - Read the detailed analysis of DCIT vs. Agni Estates & Foundations Pvt. Ltd. (ITAT Chennai) case. ITAT upholds deletion of disallowance of sponsorship expenses and interest under Income Tax Act....
ACIT Vs Britannia Industries (ITAT Kolkata) - ACIT Vs Britannia Industries (ITAT Kolkata) ITAT Kolkata held that upfront lease premium on lease-hold land is nothing but advance payment of rent and the same is not a capital expenditure and as such the deduction should be allowed u/s 37(1) of the Income Tax Act. Facts- The assessee is a public li...
Intervo Technologies Pvt. Ltd. Vs ACIT (ITAT Delhi) - ITAT Delhi held that amount advanced to subsidiary companies out of commercial expediency, accordingly, disallowance of interest claimed under section 36(1)(iii) of the Income Tax Act unsustainable....
PCIT Vs Times Internet Limited (Delhi High Court) - Delhi High Court held that the computer software which are necessary and integral for the working of hardware are eligible for depreciation at the rate of 60% instead of 25%....
Swing Infraspace P. Ltd. Vs ITO (ITAT Ahmedabad) - ITAT Ahmedabad has allowed a review petition in the Swing Infraspace case, overturning disallowances of expenses. Read the full text of the order here....
DCIT Vs Agni Estates & Foundations Pvt.Ltd (ITAT Chennai) -
ACIT Vs Britannia Industries (ITAT Kolkata) -
Intervo Technologies Pvt. Ltd. Vs ACIT (ITAT Delhi) -
PCIT Vs Times Internet Limited (Delhi High Court) -
Swing Infraspace P. Ltd. Vs ITO (ITAT Ahmedabad) -
Hari Mittar Yadav Vs ITO (ITAT Mumbai) -
Grand Venezia Commercial Towers Pvt. Ltd. Vs ACIT (ITAT Delhi) -
ITO Vs Sarsan Developers (ITAT Pune) -
Jay Polychem India Ltd Vs ACIT (ITAT Delhi) -
Swiss Re Services India Pvt Ltd Vs DCIT (Bombay High Court) -