Home Highlights August 2013 Year 2013 This

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1. Corporate membership fees - revenue in nature or capital? - no reason why the renewal membership fees should not be allowed as revenue expenditure - HC

2. Disallowance of membership fee paid to club u/s. 37 - unless assessee demonstrate with relevant evidences that subscription fee paid to club, is for the purpose of...

3. Nature of expenses - apportioning the licence fee as partly revenue and partly capital - variable licence fee paid by the assessees under the New Telecom Policy, 1999 -...

4. Disallowance of expenses u/s 37(1) by the CPC - Associateship fees paid to Mumbai Cricket Association - Membership of the employees of the company including Chairman and...

5. The fact that an expenditure gives enduring benefit is by itself not conclusive as regards the nature of the expenditure - the disallowance on account of entrance fee...

6. Bond issue expenses - Capital or revenue in nature - held as revenue expenditure - AT

7. Characterization of income - One time membership entrance fees as one time membership fees for life time membership of club (15 years) - membership fee received is...

8. Disallowance of Membership Fees paid to Cricket Club of India - The fact that assessee utilizes the facilities for the purpose of his business and it is brought on...

9. Capital expenditure or revenue expenditure - the expenditure incurred in regaining this profit company unit is in the nature of a capital expenditure and not the revenue...

10. Addition of club membership fees paid by assessee - By obtaining membership for a period of more than one year, there may be an advantage of enduring nature. However,...

11. Nature of franchise fees paid - capital or revenue expenditure - Right to use the trademark, domino’s name and logo – Exclusive license – Held as revenue expenditure - AT

12. Royalty payment - revenue expenditure or capital expenditure - payment is purely revenue in nature, as they provide for payment of license fee for manufacture and sale...

13. Nature of expenditure - expenditure towards purchase of software - We hold that advantage of an enduring benefit, need not be on capital account. If the advantage...

14. Nature of expenditure - Whether expenditure incurred by the assessee like stamp charges, loan processing fee on term loan, marketing fees, sourcing expenses, share issue...

15. Expenditure incurred on Club membership and subscription fees - Claim of business expenses by the Partner against the interest income from partnership firm - there is no...