Home Highlights November 2011 Year 2011 This

You may also like:

1. Expenditure on FCCB and debenture issue - The expenses in connection with public issue of shares or debentures of the company are allowable - QIB expenditure can be...

2. Business expenditure u/s.37(1) - share issue expenses - assessee has abandoned the proposal to issue shares at later stage - when the nature of expenditure incurred by...

3. Amortisation u/s section 35D - Euro issue expenditure - the expenditure that qualified for consideration under section 35D is restricted by reason of use of the phrase "being" - HC

4. Disallowance of ESOP expenses - in terms of ESOP if an assessee offers shares of its parent company to its employees the difference between the FMV of the shares of the...

5. Allowance of expenditure in respect of preliminary expenses under section 35D - an apparent extension or expansion must take place by establishing new undertaking - The...

6. Addition towards ROC expenses - section 35D provides amortization of certain expenses, which are in the nature of capital/intangibles/preliminary expenses, which have...

7. CSR expenditure - whether a allowable business expenditure? - explanation to Section 37(1) of the Act would not be applicable as it was with effect from the assessment...

8. Deduction u/s. 35D - shares may have been allotted only to selected Qualified Institutional Buyers ("QIBs") - These regulations provide that when a company has a public...

9. Nature of expenditure - expenses incurred on account of professional and legal fees - The expenses are not incurred for exploring the market for a new product and rather...

10. Interest expenses claim against the interest income received - It is the nature of the business and all the expenditure incurred in earning the income is allowable...

11. Assessee followed joint venture model for sharing revenue with collaborators as per franchise agreement. Assessee recorded all revenues, incurred expenditure, and shared...

12. Nature of expenditure incurred on account of issue of bonds - revenue expenditure or capital expenditure – expenditure was a permissible deduction - HC

13. Expenditure on Depository Services and Dematerialisation of share certificates - the expenditure was allowable as normal business expenditure - HC

14. Deduction u/s 35D - the assessee had increased the share capital by way of private placement with its holding, hence, deduction u/s 35D not allowable to the assessee - AT

15. Expenditure incurred on the issue of Foreign Currency Convertible Bonds (“FCCB”) - expenditure incurred by the assessee on issue of FCCB is revenue expenditure allowable...