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 September 2016 Year 2016 This

Nature of Expenses - It is well settled law that results of the ...


Business Expenses Count Even if Results Aren't Immediate; Costs Still Valid in Operations.

September 3, 2016

Case Laws     Income Tax     AT

Nature of Expenses - It is well settled law that results of the business activities or fruits of efforts to a business organisation may yield in the concerned year or in subsequent years or never. But that would not mean that the expenses incurred would not be expenses incurred during the course of business - AT

View Source

 


 

You may also like:

  1. Allowable business expenses - There is difference between commencement of the business and setting off of the business. All the expenses incurred pre-commencement are to...

  2. Valuation - Captive Consumption of goods by the sister concern - expenses to be included in the cost of production - Determination of Cost Plus 10% - Rule 8 - The issue...

  3. TP Adjustment - Disallowance of non-operating and non-allocable expenses incurred for exploring new business in the line of Maintenance and Operations of Transportation...

  4. Disallowance of contingency expenses claimed by the assessee. The Assessing Officer (AO) disallowed the contingency expenses despite acknowledging that the total cost...

  5. Denial of claim of loss or to categorize certain expenses as pre-operative expenses - commencement of business during the year - assessee’s business was ‘set up’ or not...

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

  7. Business expenditure comprising of administrative expenses, marketing and selling expenses and finance expenses - even if AS-7 is applied, it nowhere suggests that...

  8. Business expenditure u/s 37 -invocation of explanation to section 37 is uncalled for as the assessee has not made any expenses for purchase of diamonds rather entire...

  9. Disallowance of the expenses claimed on account of employees benefit expenses - AO making the disallowance on the ground that assessee has claimed the expenses basically...

  10. Allowability of deduction u/s 37(1) of the Act - Amount of service tax included with interest – expenses have direct nexus with the business operation - expense allowed - HC

  11. Addition on account of Business Promotion Expenses - personal element in the business promotion expenses to the extent of 10% of the total expenses cannot be ruled out.

  12. HC determined two key issues regarding NRI deposit mobilization expenses and pension fund contributions. Expenses incurred for soliciting NRI deposits were held...

  13. Nature of expenses - legal and professional expenses and other expenses defending the directors and their relatives - The expenses incurred even for defending the...

  14. Disallowance on account of depreciation claimed on the cost incurred in relation to the land being non depreciable asset - To our understanding, the impugned expenses...

  15. LTCG - Deduction u/s 54 - Adoption of the cost of acquisition of new asset - - what is to be treated as cost of the residential house is the entire cost of house and it...

 

Quick Updates:Latest Updates