Home Highlights June 2013 Year 2013 This

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1. Allow-ability of expenditure - scholarship to the children of members, payment to legal heirs of members and gifts to members - even though there is no legal obligation...

2. Disallowances of centenary celebration expenses, gift distribution and interest relief to society expenses - The expense incurred on account of relief fund to celebrate...

3. Disallowance of staff welfare expenditure - Assessee being a corporate body so question of expenditure being personal in nature does not arise - 100% claim of...

4. Addition u/s 68 - unexplained gifts received from family members - The Appellate Tribunal found that the assessee had provided sufficient evidence to establish the...

5. Pharmaceutical companies’ gifting freebies to doctors, etc. - whether Allowable Business expenditure under Section 37(1)?

6. Debts owed by the assessee have to be allowed on pro-rata basis - WTA - AT

7. Addition regarding gift received from father - Father is not filing ITR having agriculture income - merely because a person, giving gift to his son, is not filing return...

8. Undisclosed income u/s 68 - Genuineness of Gift - Tribunal erred in law in dismissing the appeal only on the ground that since the 3rd Member had agreed with the...

9. Sales promotion expenses - expenditure with respect to the gold chains being distributed - expenditure allowed - AT

10. Allowability of Medical expenses for staff / Director - keeping the principal of “commercial expediency” the assessee incurred the expenditure on his hospitalisation and...

11. Additions u/s 56(2)(vii) - any amount received by a member of the 'HUF', even out of the capital or estate of the 'HUF' cannot be said to be income of the member...

12. Revenue expenditure versus capital expenditure - expenditure incurred on ERP Software – allowed as revenue expenditure - AT

13. Disallowance of business expenditure - Interest income - The principal source of recurring income of the assessee is from the members - it was absolutely necessary for...

14. Staff training expenses – Capital or revenue - The training expenses incurred for training of staff members for employing them in the business of the appellant is...

15. Claim of expenditure u/s 37(1) - medical insurance premium paid for the family members of the employees of the company - Claim of expenses allowed as business expenditure.