Home Highlights October 2017 Year 2017 This

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1. Royalty payment - revenue expenditure or capital expenditure - payment is purely revenue in nature, as they provide for payment of license fee for manufacture and sale...

2. Nature of expenses - payment of royalty - acquisition of intangible asset - the appellate authorities, while deleting the disallowances made by the assessing officer,...

3. Revenue expenditure versus capital expenditure - expenditure incurred on ERP Software – allowed as revenue expenditure - AT

4. Capital expenditure or revenue expenditure - the expenditure incurred in regaining this profit company unit is in the nature of a capital expenditure and not the revenue...

5. The Appellate Authority has very wide powers and can exercise its discretion to consider a claim or a ground not considered by the assessing authority for a sufficient...

6. Where whole of the turnover has escaped assessment on account of not passing an assessment order, the provisions of Section 29(1) of the Act, 2008 can be invoked by the...

7. Payment for know-how - deductible under Section 37 as a Revenue expenditure OR Section 35AB? - said expenditure qualifies for deduction u/s 37 - HC

8. Disallowance of payment to sub-contractor - disallowance of 10% from the other payments - the contractors had worked and the TDS was made from the payments but the...

9. The Commissioner of Income Tax (CIT) invoked Section 263 to revise the Assessing Officer's (AO) order, disallowing the amount paid on termination of an agreement,...

10. Disallowance of expenditure incurred under Voluntary Retirement Scheme (VRS) - AO has not examined the details as per the directions of the DRP and has made disallowance...

11. Seeking amendment in the bills of entry - The Assessing Authority has failed to consider the fact that Section 149 of the Act does not prescribe any time limit for...

12. Nature of expenditure - Revenue expenditure or capital expenditure - expenditure incurred by the Appellant for raising floor height of Godown - The expenditure so...

13. Expenditure of software stock and maintenance charges is required to be treated and / or considered as revenue expenditure and not as capital expenditure - HC

14. Validity of assessment order u/s 144C - petitioner filed objection to the draft assessment order well within the time of thirty days before the DRP - The High Court held...

15. Validity of reopening of assessment u/s 147 - Addition u/s 68 - The function of the assessing authority at this stage is to administer the statute and what is required...