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 October 2015 Year 2015 This

Nature of expenditure - There is a clear finding of fact by the ...


High Court's Overturn of Tribunal's Decision on Assessee's Legal Expenses Deemed Unjustified; No Substantial Law Question Raised.

October 17, 2015

Case Laws     Income Tax     SC

Nature of expenditure - There is a clear finding of fact by the Tribunal that the legal expenses incurred by the Assessee were for protecting its business - High Court was not justified in upsetting a finding of fact arrived at by the Tribunal, particularly in the absence of a substantial question of law being framed in this regard - SC

View Source

 


 

You may also like:

  1. The Appellate Tribunal considered the disallowance of club expenses to determine if they were incurred for business purposes. It held that the Assessing Officer's...

  2. ITAT ruled against disallowance of transportation expenses, finding the Assessing Officer failed to establish statutory grounds u/s 37 for rejection. The tribunal...

  3. 30% ad-hoc disallowance of travelling expenses being car charges, foreign travelling expenses and domestic travelling expenses - The Assessee argued that the expenses...

  4. Income accrues or arises or deemed to accrue or arise in India - Unexplained foreign income - residential status of the assessee - The Tribunal upheld the CIT(A)'s...

  5. The Appellate Tribunal considered unexplained cash deposits during demonetization. The Tribunal noted the assessee's agricultural income and expenses but found...

  6. Income deemed to accrue or arise in India - Attribution of Profit to permanent establishment (PE) in India - The Tribunal observed that while the Assessing Officer...

  7. Assessment proceedings against one of the legal heirs - deceased/assessee had admittedly more than one legal representatives - Despite the legal heir's explicit...

  8. Tribunal's conclusion that Resale Price Method (RPM) is the most appropriate method upheld. Transfer Pricing Officer (TPO) and Dispute Resolution Panel (DRP) had...

  9. Disallowance of legal expenses - The fact remains undisputed before us that the assessee has not done any business activities during the year and that there is no...

  10. The assessee, engaged in the business of shares and securities, claimed administration expenses, including Portfolio Management Service (PMS) expenses, against capital...

  11. Disallowance of Corporate Social Responsibility (CSR) and Sustainable Development (SD) expenses. Following the precedents established in the assessee's own cases and the...

  12. Profits in lieu of salary u/s 17(3)(i) - payment received by the assessee as lump sum amount after his termination from service and sum received for the purchase of new...

  13. In a recent High Court case, the issue of whether advertisement expenditure could be considered as allowable revenue expenditure was discussed. The ITAT allowed the...

  14. Disallowance as per order u/s 144C - default in filling of form 35A - The appellant filed a corrected Form No. 35A. The Tribunal ruled that this correction did not...

  15. The Appellate Tribunal addressed various issues in the case. The AO made additions based on uncorroborated documents seized from a third party. The Tribunal held that...

 

Quick Updates:Latest Updates