Home Highlights January 2014 Year 2014 This

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1. Expenditure owing to distribution of gifts to members/staff - expenditure allowed - AT

2. TDS u/s 194H - commission payment to dealers - commission payment to dealers for distribution of SIM cards and recharge coupons of telecom service providers - whether...

3. Revision u/s 263 - Genuineness of expenditure (Commission paid) - The ITAT found that the commission agreement was genuine, payments were made through banking channels,...

4. Disallowance towards commission expenditure - The payments in commission are made on a monthly/periodical basis based on the clearing of the bills of the assessee...

5. Transfer pricing adjustment – Indenting transactions - commission percentage from AE transactions should be benchmarked on the basis of commission rate from non-AE...

6. The assessee claimed deduction of expenditure incurred for handling and disposal of spent solvents/scrap against unaccounted cash receipts from their sale. The ITAT held...

7. TPA - there is no difference between the form and substance of the transaction of distribution to recharacterise the transaction as a service agreement - the transaction...

8. Disallowance of export commission paid by the assessee - allowable business expenses or not? - Despite the substantial increase in commission compared to the preceding...

9. Addition on account of short deposit of Dividend Distribution Tax (DDT) - we do not find mention of any of the provisions of the income tax act which provides that short...

10. Disallowance of claim of commission payment - Liability to deduct TDS for making payment to Non-Residents - withholding tax - where payment of commission has been made...

11. Expenditure on account of freebies to medical professionals - deduction u/s 37(1) - It is an open secret, secret if it is, that all these freebies extended by the...

12. Genuineness of payment of commission to shareholders employees - As per the agreement, six directors, who were also share holders, were paid additional salary termed as...

13. Disallowance of expenditure - commission paid for doing liaisoning work to get the contract - we have not been shown any law, under which, the commission paid was...

14. Deduction u/s 37 - Guarantee commission paid to State Government – allowed as revenue expenditure - HC

15. 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...