S. 37(1) : Business expenditure-Employees’ Stock Option Scheme-Deducted tax at source in respect of share-based compensation under taxed in hands of employees as perquisite-Cross-charge expenses-Allowable as deduction-Assessing Officer was directed to verify whether amount subject to tax deduction at source-Matter Remanded. [S. 15, 17(1), 40(a)(i), 192, 195]
S. 37(1) : Business expenditure-Capital or revenue expenditure-Temporary structure-100% depreciation is allowable.[S. 32]
S. 37(1) : Business expenditure-Miscellaneous expenditure-Ad Hoc disallowance-Deletion is held to be proper.
S. 37(1) : Business expenditure-Credit card expenses of employee-Matter remanded for verification.
S. 37(1) : Business expenditure-Capital or Revenue Expenditure-Payment for acquisition of application software-Revenue expenditure.
S. 37(1) : Business expenditure-Financial assistance to meritorious students-Not contingent-Allowable as deduction-Capital or revenue-Expenditure for new electricity connection and Meter cost-Internet networking expenses-Payment to Municipality for name transfer fee-allowable as revenue expenditure-Expenses incurred for extension of height of existing boundary wall-Capital expenditure-Fines and penalties-Expenses for regularisation of construction of old building-Penalty imposed by Urban Improvement Trust on account of unauthorised construction-Not allowable as business expenditure.[S. 145]
S. 37(1) : Business expenditure-Ex gratia payment-Deduction should be allowed although liability may have to be quantified and discharged at future date-Matter remanded. [S. 145]
S. 37(1) : Business expenditure-Expenditure is not substantiated with valid vouchers-Disallowance is affirmed.
S. 37(1) : Business expenditure-Capital or revenue-Application software-Net working with 125 branches-Allowable as revenue expenditure.
S. 37(1) : Business expenditure-Post-production expenses of feature film-Producer and distributor-Allowable as business expenditure-Rule 9A or Rule 9B is not applicable. Reassessment on change of opinion is bad in law-Resale of set material-Estimated at 5 per cent of total cost incurred on such set materials. [S. 143(3), 147, 148 Rule, 9A, 9B]