Home Highlights November 2016 Year 2016 This

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1. Capital gain computation - Allowability of transfer expenses [brokerage, air tickets, hotel accommodation receipts, postal charges receipts, conveyance charges, lawyer...

2. Addition of expenses as penal in nature - forfeiture of the Bank Guarantee - it was related to the business activities of the assessee and was revenue in nature,...

3. When the assessee incurred expenses towards consultancy charges in order to make investment, the Assessing Officer was not justified in treating and considering the...

4. MAT u/s 115JB - The findings of the ld.CIT(A) holding the impugned expenses to be not in the nature of prior period expenses, but confirming the adjustment made to the...

5. Assessee's claims for foreign travel expenses, physical fitness expenses, personal expenses, security charges, and swimming pool charges were partially disallowed due to...

6. Registration expenses deleted - payments made under the heads consultancy fees, bank charges and other expenses cannot be held to be not incurred for the business for year - AT

7. Valuation - Job Work - inclusion of product development charges and consultancy charges - any expense which is not attributable to the job work cannot be included in...

8. TDS u/s 195 - nature of 'referral fee' paid outside India - No services were rendered in India by these two companies for facilitating the investment in the assessee...

9. Nature of expenses - Allowable expenses u/s 37(1) - Interest and late fee on TDS, Late payment & penalty charges, Interest on margin trading facility - There was no...

10. Construction of residential complex - It appeared to Revenue that the appellant is also collecting one time Preferential Location Charges, Car Parking Charges, Club...

11. Nature of expenses - Relaunch expenses - deferred revenue expenditure claimed to the extent of 1/3rd in each of the year -The tribunal disagreed with the AO's...

12. Nature of expenditure - expenditure incurred for development of a new product including knowhow - Thus expenditure incurred by the assessee being technical consultancy...

13. Various issues related to allowability of expenses, deductions, transfer pricing adjustments, and other income tax matters for a pharmaceutical company. Key points are:...

14. Valuation - cargo handling and port services - inclusion of facility charges in the assessable value - presumption of the Revenue is that the respondent have not...

15. Levy of GST - reimbursement of expenses such as salaries, rent, training, staff welfare expenses etc. - Rate of GST - Government Entity or not - The consultancy services...