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 2012 Year 2012 This

Expenditure incurred by the assessee company on payment of ...


Company's Share Buyback Expense Considered Revenue, Eligible for Income Tax Deduction.

September 28, 2012

Case Laws     Income Tax     AT

Expenditure incurred by the assessee company on payment of premium for purchase of its own shares from warring group of shareholders - expenditure is revenue in nature - deduction allowed - AT

View Source

 


 

You may also like:

  1. Addition u/s 56(2)(viia) - taking fair market value of buy back of shares by assessee from its holding company a company incorporated in USA - the provisions of section...

  2. Assessee followed joint venture model for sharing revenue with collaborators as per franchise agreement. Assessee recorded all revenues, incurred expenditure, and shared...

  3. The assessee company is eligible to claim Foreign Tax Credit (FTC) against its Minimum Alternate Tax (MAT) liability u/s 115JB of the Income Tax Act for taxes paid in...

  4. Addition u/s 68 - buyback was not genuine and added back the buyback amount as unexplained income - Section 68 of the Income Tax Act, 1961, which deals with unexplained...

  5. Deductibility of interest income from investments u/s 80P(2)(a)(i) of the Income Tax Act for a primary agricultural credit cooperative society. The key points are: The...

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

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

  8. Deduction u/s 35(2AB) for in-house Research and Development (R&D) expenses was disallowed as the assessee failed to properly explain the basis of claim and reconcile the...

  9. Deduction of broken period interest paid on securities and deduction of expenditure incurred on the issue of Fully Convertible Debentures (FCDs). Regarding broken period...

  10. Income Tax: Tax on distributed income of domestic company for buy-back of shares to be treated as dividend in hands of shareholders. Cost of acquisition of shares bought...

  11. Deduction u/s 10A - Adhoc disallowance of professional expenses, electricity charges and miscellaneous expenses - It is not in dispute that the aforesaid administrative...

  12. Correct head of income - treatment of income from sale and purchase of shares - business income or income from capital gains - high volume of transactions and frequently...

  13. Computation of deduction u/ss 80IB/80IC and 10B - AO allocated Head Office expenses to eligible units, reducing deduction. Tribunal consistently restores issue with...

  14. The High Court addressed the issue of deduction u/s 80-IC (2) (a) for a company manufacturing Pan Masala. The company's product was considered excluded for deduction due...

  15. Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

 

Quick Updates:Latest Updates