Home Highlights April 2013 Year 2013 This

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1. Addition of expenditure on provision for construction cost of various sites in view of mercantile system of accounting - matching concept of accountancy provision -...

2. Nature of expenditure incurred on account of issue of bonds - revenue expenditure or capital expenditure – expenditure was a permissible deduction - HC

3. The High Court's judgment addressed the interpretation of Section 43A regarding losses arising from exchange rate fluctuations on foreign currency loans utilized for...

4. Bond issue expenses - Capital or revenue in nature - held as revenue expenditure - AT

5. Expenditure incurred on issue of shares (public issue expneses) are not allowable expenditure u/s 35D ...... - HC

6. 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...

7. The Appellate Tribunal addressed various issues in the case. Firstly, regarding disallowance u/s. 14A r.w.r. 8D, the Tribunal upheld the consistency principle in the...

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

9. Nature of expenditure - Whether expenditure incurred by the assessee like stamp charges, loan processing fee on term loan, marketing fees, sourcing expenses, share issue...

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

11. TP Adjustment - PLI computation - if rental expenditure is considered as an operating expenditure, then the reimbursement should be set off against the rental...

12. 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...

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

14. Deduction - no income or receipt was shown - In case the assessee incurs expenditure to buy and utilize space segment on a satellite for providing the qualifying...

15. Nature of expenditure - Revenue expenditure or capital expenditure - The ITAT held that, it is now well settled that revenue expenditure is allowable in entirety in the...