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 February 2017 Year 2017 This

Nature of contribution to another institution - nothing was ...

Case Laws     Income Tax

February 10, 2017

Nature of contribution to another institution - nothing was brought on record to highlight, how the assessee has got the benefit either in this year or in the future or any benefit to the overall benefit to the organisation as a whole. There has to be some benefit directly or indirectly to the organisation - Cannot be allowed as expenditure u/s 37(1) - AT

View Source

 


 

You may also like:

  1. Exemption u/s 11 - corpus contribution of ₹ 150 Crores - the mere fact that the assessee credited the receipts as corpus contribution, in our considered opinion,...

  2. Depreciation on sample flat - number of days asset used - the revenue has allowed the claim of 50% of the depreciation claimed by the assessee in the first year when the...

  3. Addition u/s 68 - share application money/share capital and share premium as unexplained - The onus was on revenue to dislodge assessee’s documentary evidences and rebut...

  4. Addition u/s 40A(2)(b) - nothing is brought on record to substantiate that the loans raised by the assessee were not utilized for the business purposes or were diverted...

  5. Allowable as business expenses - Small contributions to local people and institution on request of employees and business associates - Section 37 of the Act contemplates...

  6. Activity under the Joint Venture Agreement (JDA) - the activity undertaken by the appellant with its cost equivalence recorded in the books is nothing but capital...

  7. Reopening of assessment - accommodation entries - nothing concrete was brought on record to substantiate that the assessee received any entry or made payment for...

  8. Dismissal of Application u/s 7 for initiation of CIRP - Period of limitation - In the Application, which was filed u/s 7, the Appellant has not brought on record the OTS...

  9. Penalty levied u/s. 271D - assessee had taken loan from his brother and his mother in cash for the purpose of purchase of residential property - There is nothing on...

  10. Addition on the ground of balance appearing in HSBC Bank Account, Geneva undisclosed - Nothing has been brought on record in “reasons recorded” or there is any material...

  11. Nature of expenditure - expenses of loss on account of fire - revenue or capital expenditure - The assessee incurred the expenses to bring the building in the same form...

  12. Exemption u/s 11 - registration u/s 12AA Cancelled - Application test under section 11, 12 and 13 of the Act, could have been applied only after the outcome of the...

  13. Disallowance of depreciation on car - use of car for personal purposes - it is for the AO to bring on record to suggest use of asset for personal purpose. In this case,...

  14. Revision u/s 263 - Transfer of land by wife to her husband - Nature of transaction - Sale or Gift - It is the case of the assessee that sale deed is nothing but gift...

  15. Registration u/s.12AA - when the objects of the Assessee are charitable in nature being solely for the purpose of education and all activities spring from and are to be...

 

Quick Updates:Latest Updates