Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights December 2014 Year 2014 This

Assessee was guided by the objective of enhancing its profits ...


Court Rules Sales Strategy Expenses Valid Despite Lack of Best Practices in Profit Enhancement Efforts.

December 9, 2014

Case Laws     Income Tax     AT

Assessee was guided by the objective of enhancing its profits and the aforesaid methodology of effecting sale was adopted - No doubt, it may not be the best of the practices, so however, the expenditure cannot be disallowed merely for that reason - AT

View Source

 


 

You may also like:

  1. This case deals with the levy of deficit stamp duty and penalty in a court-conducted auction sale. The key points are: In a court-supervised auction sale, the stamp...

  2. Assessment proceedings conducted by non-jurisdictional officer - Assessee participated without challenging jurisdiction - Assessment order valid as per Supreme Court...

  3. Onus on assessee to explain exorbitant increase in transport expenses and support with proper bills/vouchers, which assessee failed. Sample bills/vouchers not for...

  4. The adjudicating authority is bound to explain the alleged contraventions to the person proceeded against or their legal representatives. Rule 4(4) mandates...

  5. HC ruled in favor of assessee regarding TDS deductions on salary reimbursements made to Walmart USA for seconded employees. The court rejected Revenue's argument about...

  6. Insurance company computing income u/s 44 is not required to include profits from sale of investments for periods prior to 01.04.2011 as per Rule 5, aligning with...

  7. The CESTAT dismissed an appeal for non-prosecution under Rule 20 of CESTAT Procedure Rules, 1982, after multiple adjournments exceeded the statutory maximum of three....

  8. Correct head of income - Profit or loss derived from sale of land - Assessee has computed profit or loss derived from sale of land under the head ‘capital gains’ to...

  9. Income Tax: Section 44 of the Income Tax Act provides for computing profits and gains of life insurance business based on the First Schedule. Rule 2 of the First...

  10. Validity of provisional attachment order - benefit of Input Tax Credit availed from invoices issued from non-existing firms - It observes that the impugned order lacks...

  11. The High Court held that respondent No. 3 cannot avoid deciding the petitioners' application dated 20 December 2023 seeking an advance ruling on the taxability of sale...

  12. Disallowance of prior period expenses pertaining to expenditure crystallized or details received after completion of earlier years' audits. Genuineness not doubted,...

  13. Rule 86A of the Central/State Goods and Services Tax Rules, 2017, which allows blocking of the Electronic Credit Ledger, has been held unconstitutional by the High Court...

  14. 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...

  15. TP Adjustment - Naturally when sales price consists of price for warranty and After sales services, which are promised at the time of sales, naturally corresponding...

 

Quick Updates:Latest Updates