Home Highlights April 2013 Year 2013 This

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1. Disallowance of various expenses on ad hoc basis - While scrutinizing the expenditure if the expenses claimed are not having any nexus to the business of the assessee or...

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

3. Claim of expenses disallowed u/s 37(1) - expenditure/loss incurred on abandoned project – for the first two years the expenditure is shown as “work-in-progress” - claim...

4. Refund claim - debit note/expense voucher - so long as the documents (debit notes) reveal the essential details like registration no, service provided, service...

5. CENVAT Credit - Credit on strength of debit notes - duty paying documents - there is no reason to deny the credit on the basis of the debit notes - AT

6. 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...

7. CENVAT Credit - duty paying documents - Debit Note issued by the importer in respect of import of machines - CVD paid there on was passed on to the appellant by way of...

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

9. Business expenditure u/s.37(1) - share issue expenses - assessee has abandoned the proposal to issue shares at later stage - when the nature of expenditure incurred by...

10. Sharing of expenses - BAS - promotion of business of group companies - sharing of expenditure for common facilities cannot be treated as service by one to another in...

11. Validity of reassessment proceedings u/s 147, the requirement of fresh tangible material for reopening assessment, and the disallowance of expenditure incurred on DAP,...

12. Quantum of the household expenses - the assessee has not furnished any information qua to the household expenses. Thus there remains no alternate except to estimate the...

13. CENVAT Credit availed based on the debit note - A perusal of Annexure-3, which is the so-called debit note, which is placed on record, reveals that it does not contain...

14. Cenvat Credit - Input services - certain documents called "debit notes" issued by the service provider - All the details of the service provided is recorded in the debit...

15. CENVAT Credit - Debit notes - when the debit note contains all the particulars which are required to be mentioned in an invoice, just because the document is titled...