Contribution to State Renewal Fund - allowable expenditure - it ...

Case Laws Income Tax

April 20, 2017

Contribution to State Renewal Fund - allowable expenditure - it was a legal obligation of the assessee towards contribution of the said amount to the State Renewal Fund and there being a legal obligation as well, to be allowed u/s 37(1) as business expenditure - AT

View Source

← Previous Next →

Contribution to State Renewal Fund - allowable expenditure - it ...

Case Laws Income Tax

April 20, 2017

You may also like:

Deduction claimed u/s 80G for donations qualifying as CSR expenditure was expressly disallowed u/s 37(1). The court held that even though there is no explanation for...

The assessee's contribution to the Compensatory Afforestation Fund (CAF) is a revenue expenditure, not capital expenditure. This issue is settled, as the Bombay High...

Disallowance u/s 14A read with Rule 8D - Assessing Officer did not record objective satisfaction for not accepting suo moto disallowance made by assessee. ITAT directed...

Expenditure toward the grant-in-aid to the school/institution - allowable u/s 37(1) as expenditure have been incurred for the purpose of business of the assessee i.e and...

The assessee's contribution to the Employees Group Gratuity Scheme was disallowed solely due to it being paid to an unapproved Gratuity Fund. However, it was held that...

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,...

Exemption u/s 11 - money received on account of IDC [Infrastructure Development Charges] - Merely because the assessee fund no longer requires approval of the Finance...

Delay in deposit made to the employees Provident fund and ESIC - such sums were not credited by the respective assessee to the employees 'accounts in the relevant fund...

Nature of expenditure - expenditure incurred in protecting the land from the acquisition - Land was held as stock-in-trade of the Assessee - the expenditure incurred by...

Schedule VII in the Companies Act, 2013 amended - Contribution to incubators funded by various authorities.

The assessee argued that the case was selected for limited scrutiny, limiting it to verifying deductions u/s 57. However, the interconnected nature of deductions and the...

Prior period expenditure - Addition of legal and professional charges - if the Tax Consultant following its general practice raises the invoice upon conclusion of the...

Disallowance of interest expenditure - diversion of funds for non-business purpose - In order to examine the allowability of interest expenditure on funds borrowed, when...

The assessee failed to substantiate the provision made for freight, material handling charges, and IT support expenses as an allowable expenditure. The assessee merely...

Expenditure on brokerage expenditure paid for obtaining investments in mutual funds - investment made in the funds yields income over a period of years, however the said...

Quick Updates: