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 October 2012 Year 2012 This

Tender Fees Expenses - Revenue v/s Capital - It was incurred in ...


Tender Fees Classified as Revenue Expense, Part of Profit-Earning Process, Not Asset Acquisition.

October 28, 2012

Case Laws     Income Tax     AT

Tender Fees Expenses - Revenue v/s Capital - It was incurred in connection with the integral part of profit earning process and not for acquisition of any asset- held as revenue in nature. - AT

View Source

 


 

You may also like:

  1. Revenue expenditure or capital expenditure - Allowability of expenses on acquisition of clientele and technical human resource i.e., employees to execute the contract -...

  2. Transfer pricing adjustment for comparable selection was challenged due to functional dissimilarity. The assessee provided IT-enabled services and back-end credit card...

  3. Expenses incurred on up-gradation of software do not result into acquisition of any asset nor acquisition of enduring benefits as software become obsolete very quickly -...

  4. The HC held that interest income earned on funds temporarily deposited in bank during pre-commencement of business for acquisition of capital asset like coal mine is...

  5. Eligibility for depreciation - part payment made for the acquisition of asset - Once the corresponding liability in the accounts has been shown, then depreciation on the...

  6. The ITAT ruled that professional fees paid for drafting patent applications constitute revenue expenditure deductible under s.37(1) as they were incurred in the regular...

  7. The ITAT ruled that Portfolio Management Service (PMS) fees paid by the appellant to portfolio managers qualify as expenses "wholly and exclusively incurred in...

  8. Computation of book profit u/s 115JB does not allow inclusion of capital gain from sale of flats with indexed cost benefit. Section 115JB requires calculation of book...

  9. Fixation of IRP fees - lack of earnestness and proficiency on the part of the IRP - The Appellate Tribunal finds that the IRP's fees were initially quoted at a higher...

  10. Classification - pellet mill and spare parts for shrimp feed machinery - whether part of pellet mill and spare parts of shrimp feed machinery can be classified under CTH...

  11. The firm is succeeded by the company, therefore, the cost of acquisition of the company would be as that of acquisition of the firm. The valuation of land and assets of...

  12. Disallowance of the expenses claimed on account of employees benefit expenses - AO making the disallowance on the ground that assessee has claimed the expenses basically...

  13. Correct head of income - treatment of profit on transfer of immovable properties - The assignment of debt in favour of another entity partly in exchange of land was...

  14. Addition made on account of gains from cancellation of forward contract - Allegation that, the so-called asset could not be created not any foreign exchange loan was...

  15. Depreciation - plant and machinery could not be used during the year due to shifting / relocation of plant - Though, the unit could not generate revenue during the year...

 

Quick Updates:Latest Updates