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 2013 Year 2013 This

Corporate membership fee paid to Golf Club - Such expenses are ...


Corporate Golf Club Fees are Business Expenses, Not Capital Assets, Benefiting the Assessee's Operations.

February 16, 2013

Case Laws     Income Tax     HC

Corporate membership fee paid to Golf Club - Such expenses are for running the business with a view to produce the benefits to the assessee. - it cannot be treated as capital asset - HC

View Source

 


 

You may also like:

  1. Disallowance of membership fee paid to club u/s. 37 - unless assessee demonstrate with relevant evidences that subscription fee paid to club, is for the purpose of...

  2. Disallowance of Membership Fees paid to Cricket Club of India - The fact that assessee utilizes the facilities for the purpose of his business and it is brought on...

  3. Taxability of capital gain arising from sale of property - The assessee had acquired a right to get a particular flat from the builder and that right of the assessee...

  4. Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

  5. Capital or revenue expenditure - one time expenditure incurred for the Club Membership Fee – Such expenses are for running the business with a view to produce the...

  6. Disallowance of expenses u/s 37(1) by the CPC - Associateship fees paid to Mumbai Cricket Association - Membership of the employees of the company including Chairman and...

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

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

  9. Surplus earned on the sale of plot - ‘capital gain‘ OR ‘business income’ - There is no clause in the partnership deed about making investment in the land and to earn...

  10. Correct head of income - income earned out of sale of property - business income or capital gains - when the asset was converted into stock-in-trade - the assessee has...

  11. Nature of expenses - Litigation expenses - Revenue or capital expenditure - In the present facts, since assessee has no interest in the ownership of the asset but he is...

  12. CENVAT credit - Golf Club Membership is not related to the assessee's business and therefore, they are not entitled to the CENVAT credit of service tax paid on club...

  13. Deduction u/s 54EC - LTCT or STCG - Investment of consideration against sale of depreciable assets - Section 50 cannot convert long term capital assets into short term...

  14. The assessee, an NRI and resident of USA, transferred a capital asset and derived capital gain. The asset comprised rights and interests acquired through an assignment...

  15. Disallowance u/s 37(1) expenses towards fees, subscription and payment of services for various clubs such as Karnataka Golf Association, Bangalore Club, the Karnataka...

 

Quick Updates:Latest Updates