Corporate Law : Explore the Bombay High Courts landmark ruling: Offences under investigation cant be grounds for externment orders. An in-depth an...
Income Tax : Explore recent Supreme Court rulings (2023) on income tax issues. Highlights of key cases, analysis, and implications....
Company Law : Understand the intricacies of CSR expenditure deduction under Section 80G. Explore recent clarifications and legal standpoints for...
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...
Income Tax : Ensure Compliance: Offering freebies to doctors may lead to serious consequences under Section 37(1) of the Income Tax Act. Any ex...
Income Tax : Explore the ITAT Mumbai's decision on payments to retiring partners by Deloitte Haskins and Sells LLP. Understand why it's not con...
Income Tax : ITAT Mumbai rules no disallowance under Section 14A for investments not yielding tax-free income. Detailed analysis of DCIT vs Par...
Income Tax : Delhi ITAT ruling favors G-Tekt India Pvt. Ltd., allowing deduction for CENVAT Credit written off. Detailed analysis of the case a...
Income Tax : Issuance Of Letters Of Comfort/Support will Construe As International Transaction U/s 92B considering corporate guarantee issued b...
Income Tax : Expenditure incurred by assessee should be disallowed to the extent that expenditure which had been incurred for evaluation of bus...
ITAT Delhi held that ESOP (Employees Stock Option) expense is allowable expense under section 37(1) of the Income Tax Act in computing the income in profit and loss of business or profession.
ITAT Mumbai held that rental income from giving out commercial properties for compensation as per Memorandum of Association (MOA) is to be treated as ‘business income’ and not as ‘income from house property’.
Payment on account of penalty under service tax is penal in nature and was levied for violation of law, therefore penalty is not admissible
Delhi High Court held that Corporate Social Responsibility [CSR] expenses incurred by assessee are allowable as deduction under section 37(1) of Income Tax Act.
Understand the intricacies of CSR expenditure deduction under Section 80G. Explore recent clarifications and legal standpoints for a comprehensive view.
PCIT Vs Steel Authority of India Ltd. (Delhi High Court) Undisputedly, the departmental authorities have disallowed the CSR expenses, firstly, on the reasoning that it is of capital nature, and secondly, it is not incurred wholly and exclusively for the purpose of business. As per section 135 of the Companies Act, 2013, every company having […]
ITAT Chennai held that permit charges paid to Government to operate buses in the state is revenue expenditure. Accordingly Pondicherry permit charges paid to Government of Pondicherry to operate buses in the state of jurisdiction of Pondicherry is allowable revenue expenditure.
ITAT held that the interest paid on belated payments of service tax is allowable for deduction under Section 37(1) of the Income Tax Act, 1961
SC held that the provisions of section 43B would not apply to the provisions of section 36(1)(va) of the Act in respect of employees contribution.
BBG Metal Syndicate Pvt Ltd Vs DCIT (ITAT Cuttack) Admittedly, the Hon’ble Supreme Court in the case of Checkmate Services Pvt Ltd(supra) has categorically held that the employees contribution to PF and ESI to the extent it is not paid within due date prescribed under the PF Act, is not allowable u/s.36(1)(va) of the Act. […]
