Home Highlights November 2013 Year 2013 This

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

2. Disallowance of building renovation expenses – Capital or revenue expenses - the expenses are to be treated as revenue in nature and allowable u/s 37(1) of the Act - AT

3. Nature of expenses - payment of royalty - revenue or capital expenditure - Permission to user the name and Trade Mark - Royalty is payable on the basis of Annual Sales...

4. The Appellate Tribunal addressed several issues: 1. Disallowance of Brand Ambassador Expenses - AO disallowed 75% as capital expenditure, but CIT(A) found it to be...

5. Transfer pricing adjustment on export commission paid to related party disallowed based on assessee's own case demonstrating benefits and higher profitability. Royalty...

6. The ITAT held that interest disallowance was not justified as borrowed funds were invested in equity shares, not loans. Disallowance of land acquisition cost was...

7. Disallowance of royalty expenses - allowable revenue expenses - It is only in Assessment Year 2005-06, the said payment of royalty has not been allowed in the hands of...

8. Deduction u/s 80IA(4) - Disallowance of project facility expenses - Revenue expenses or Capital expenditure - Appellant was engaged in infrastructure development and...

9. Deduction u/s 10A - Adhoc disallowance of professional expenses, electricity charges and miscellaneous expenses - It is not in dispute that the aforesaid administrative...

10. Tribunal adjudicated on ad hoc disallowances of expenses debited to P&L, interest paid to banks, salary from Ozone Pharmaceuticals Ltd., deduction u/s 80IB/80IC, and...

11. Nature of expenses - Relaunch expenses - deferred revenue expenditure claimed to the extent of 1/3rd in each of the year -The tribunal disagreed with the AO's...

12. Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

13. 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...

14. Revenue expenditure or capital expenditure - Allowability of expenses on acquisition of clientele and technical human resource i.e., employees to execute the contract -...

15. Nature of expenses - payment of royalty - acquisition of intangible asset - the appellate authorities, while deleting the disallowances made by the assessing officer,...