S. 37(1): Business expenditure-Capital or revenue training and licensing of Pilots-Entries in books not determinative of nature of expenditure-Allowable as revenue expenditure in year of incurrence.[S. 145]
S. 37(1): Business expenditure-Capital or revenue training and licensing of Pilots-Entries in books not determinative of nature of expenditure-Allowable as revenue expenditure in year of incurrence.[S. 145]
S. 37(1): Business expenditure-Foreign currency convertible bonds-Not amortising expenses in books-Revenue nature allowable as deduction-Premium payable on redemption of bonds-Allowable as deduction.
S. 37(1): Business expenditure-Capital or revenue-Depreciation-Computer software-Ticketing system for Airlines-Enduring nature-Capital expenditure-Entitled to depreciation at 60 Per Cent. [S. 32]
S.37(1): Business expenditure-Failure to deduct tax at source–Royalty-Matter remanded-DTAA-India-Netherlands-Cash credits-Share capital matter remanded-Office repairs and maintenance-Matter remanded-Disallowance of expenditure in relation to exempt income-Income from dividend-Matter remanded to verify assessee’s claim of income being exempt.[S.14A, 40(a)(i),68, 195]
S.37(1): Business expenditure-Interest paid on delayed remittance of tax-Not allowable as deduction.
S. 37(1): Business expenditure-Capital or revenue-Depreciation-Computer software-Ticketing system for Airlines-Enduring nature-Capital expenditure-Entitled to depreciation at 60 Per Cent. [S. 32]
S.37(1): Business expenditure-Failure to deduct tax at source–Royalty-Matter remanded-DTAA-India-Netherlands-Cash credits-Share capital matter remanded-Office repairs and maintenance-Matter remanded-Disallowance of expenditure in relation to exempt income-Income from dividend-Matter remanded to verify assessee’s claim of income being exempt.[S.14A, 40(a)(i),68, 195]
S.37(1): Business expenditure-Interest paid on delayed remittance of tax-Not allowable as deduction.
S.37(1): Business expenditure-Wages is allowed in the year of final settlement and on actual payment only.[S. 145]
S. 37(1) : Business expenditure-Project abandoned-Joint venture project-Expenditure incurred relating to a joint venture project later abandoned is allowable in so far as the expenditure is incurred by the Assessee itself and not the joint venture entity.