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A funny case law (income tax act)

Kartik Shetty (Industrial Trainee) (104 Points)

14 March 2014  

This is one of the most hilarious case laws of Income Tax I have Come accross worth sharing.

A lawyer incurs expenditure on his heart surgery and claims it as Business Expenditure u/s 31. His contention being heart is his plant and machinery which enables him to discharge his professional work and therefore the expenses on his treatment be allowed as current repairs.

Obviously the court rejected his claim saying that heart adds to the longevity and efficiency of a human being and professional activity is one of the benefits of it. Also, if heart is a machinery then it should have been included in the assessee's Balance Sheet.

It's really funny how people can come with such crazy ideas to save tax. Let alone if he is a LAWYER. So friends what is your take on it?

 


 69 Replies

CA and CMA Ravinder Singh (CA and CMA) (853 Points)
Replied 14 March 2014

Good one..it was given ICAI journal.

Nikhil Kaushik (Co-founder @ Graviky) (84092 Points)
Replied 14 March 2014

that Lawyer is a AAM Admi Party member these days..
1 Like

Kartik Shetty (Industrial Trainee) (104 Points)
Replied 14 March 2014

Oh...i hope that is just a joke.

Nikhil Kaushik (Co-founder @ Graviky) (84092 Points)
Replied 14 March 2014

No it is not a joke. Attached is the judgment.  The petitioner is a former Law Minister of the Country and a well known legal luminary ..


Attached File : 206964 1297357 shanti bhushan versus commissioner of income tax.pdf downloaded: 1318 times

Manoj Mehta (Head Of Department (Accounts & Finance))   (1479 Points)
Replied 14 March 2014

This case was asked by icai in ca-final direct tax paper in Nov 2012.

chirag (ca final...) (95 Points)
Replied 14 March 2014

shanti bhushan is father of AAP leader prashant bhushan...

CA Nitin K. Varshney (CA- Practice) (372 Points)
Replied 14 March 2014

This lawyer is truly inspired by KAZRI......... kuchh b krte h yaar btao...........

Kartik Shetty (Industrial Trainee) (104 Points)
Replied 14 March 2014

No wonder; AAP is losing its credibility gradually.

Mihir (Wealth Manager) (5288 Points)
Replied 15 March 2014

It is good to come across such caselaws that shows imagination of people. Very good attempt to dig deeper into this subject. 

1 Like

Rishi Agarwal (Senior) (56 Points)
Replied 15 March 2014

Shanti bhushan father of prashant bhushan

aftab alam (student) (32 Points)
Replied 15 March 2014

Gud analysis ... he must be a very intelligent person ...

bhanuchandar (CA Job) (23 Points)
Replied 15 March 2014

that case  was in ca final paper .

CA Shruti Gupta (CMA FINAL CS Final) (1434 Points)
Replied 15 March 2014

not gradually.........already lost...........they finished with their ego and aam admi's hope

deepak (accounts) (21 Points)
Replied 15 March 2014

good decision by courts

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