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Income Tax : No disallowance under section 14A can be made if assessee has not incurred and claimed any expenditure on exempt income

Facts in brief:- The assessee is a Private Limited Company. It filed its return of income on 26.9.20

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Income Tax : If expenditure incurred has direct nexus with its income generating apparatus can be claimed as revenue expenditure

Brief facts are: The assessee is engaged in the manufacturing of hardware made of brass such as elec

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Income Tax : All receipt of establishment in India by a non-resident is taxable only if the income is incurred in India as per the DTAA between the countries

The learned counsel for the assessee at the very outset submitted that in the immediately preceding

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Income Tax : As per clause 11 expenses incurred for promotion of branded jewellery which give enduring benefit to the assessee can claim deduction

The factual matrix of the case is that the assessee-company is engaged in the business of licensing,

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Income Tax : On the termination of royalty agreement for training it cannot be returned expenses incurred on such training can be treated as capital expenditure

From the observation we can find the following fact, it is very clear that assessee has not obtained

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Income Tax : The Expenditure incurred in relation to new plant which was still un-constructed was not revenue expenditure

It would be appropriate to give a brief background of the case before we proceed to deal with the mi

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Income Tax : Once the income taxed in the hands of the firm that should not be taxed in the hands of the assessee and expenses incurred for betterment for title of the property is allowable

Briefly stated the assessee is a Partner in the firm M/s Balachandra Laboratories. The firm had prop

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Income Tax : Loss incurred in share trading in F & O segment cannot be consider as speculative under sec 43(5) and all the decision of the authority should be based on proper reason

On the facts and circumstances of the case, the learned CIT(A) has erred in deleting the addition of

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Income Tax : Before the date rule 8D come into existence sec 14A(1) applied to determine the expenditure incurred for income not forming part of the taxable income

We have heard the learned counsel for the assessee and the ld. Departmental Representative and consi

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Income Tax : Loss incurred on refund of advance received from the customer is to be allowed irrespective to the use of the fund

Facts in brief are that during the course of assessment proceedings, the Assessing Officer noticed t

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Income Tax : As per sec 14A of IT expenses incurred to earn tax free income is liable to be disallowed

The captioned appeals being three (3) in number are directed against a common judgment of the Inc

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Income Tax : Expenditure incurred as a measure of value addition is to be treated as revenue expenditure

The assessee is converting scrap iron into MS steel. In the previous year relevant to the impugned a

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Income Tax : In order to apply sec 41 (1) assessee should have obtained deduction in the assessment in any year in respect trading liability incurred by the assessee

Brief facts of this issue are that during the year, the company has written off unsecured loans to t

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Income Tax : Expenditure incurred in acquisition of intangible asset is to be treated as revenue expenditure

On the facts and circumstances of the case, the learned CIT(A) ought not have deleted the addition o

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Income Tax : Taxability for reimbusement of exp incurred outside india

Taxability of payment for reimbursement of expenses incurred outside India Fact of case : in thi

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Income Tax : Determination of nature of expenditure incurred by an assess

Where the assessee-company had only acquired “access” to technical information under the agreement i

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Income Tax : What is the nature of expenditure incurred by an assessee

Neset Holdings (P) Ltd. v. CIT (2006) Relevant section: 37(1)

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Income Tax : Expenditure incurred in relation to exempt income

Section 14A read with sections 10(33), 57, 115-O of the Income-tax Act, 1961 – Expenditure incurred

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Income Tax : Expenditure incurred in connection with transfer ::

Held by hon"ble court that any amount the payment of which is necessary for transferring the asset w

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