S. 37(1) : Business expenditure-Club membership fees for employees and entertainment of customers-Allowable as business expenses.
Isgec Heavy Engineering Ltd. v. Dy.CIT (2020) 83 ITR 426 (Chd.)(Trib.)S. 37(1) : Business expenditure-Club membership fees for employees and entertainment of customers-Allowable as business expenses.
Isgec Heavy Engineering Ltd. v. Dy.CIT (2020) 83 ITR 426 (Chd.)(Trib.)S. 37(1) : Business expenditure Duty Drawback-Reimbursing Duty Drawback To Supporting Manufacturers Through Account Payee Cheques-No disallowance can be made. [S. 133(6)]
IKEA Trading India Pvt. Ltd. v. Dy. CIT (2020) 83 ITR 415 / (2021) 186 ITD 473 / 210 TTJ 512 (Delhi)(Trib.)S. 32 : Depreciation-Windmill-Civil work and electric generator part of windmill-Rate as applicable for windmill i.e. 80%-Applicable To Civil Work And Electric Generator-Entitled to additional depreciation.
Maharaja Shree Umaid Mills Ltd. v. Dy.CIT (2020) 83 ITR 498 (Jaipur)(Trib.)S. 32 : Depreciation-Leased assets-Eligible depreciation accordance with schedule of assets-Computer software capitalised-Entitled to depreciation at 60 Per Cent.
IBM India Pvt. Ltd. v. ACIT (2020) 83 ITR 24 (Bang.)(Trib.)S. 14A : Disallowance of expenditure-Exempt income-Administrative expenses-Restricted to the extent of exempt income. [R. 8D]
Maharaja Shree Umaid Mills Ltd. v. Dy. CIT (2020) 83 ITR 498 (Jaipur)(Trib.)S. 14A : Disallowance of expenditure-Exempt income-No exempt income earned during year-No disallowance can be made. [R. 8D]
IBM India Pvt. Ltd. v. ACIT (2020) 83 ITR 24 (Bang.)(Trib.)S. 11 : Property held for charitable purposes Charitable Purpose-Amended objects-Enabled to exploit infrastructure for commercial purposes-Not entitled to exemption. [S. 2(15)]
Punjab Cricket Association v. ITO (2020) 83 ITR 116/194 DTR 11/ 207 TTJ 476 (Chd.)(Trib.)S. 10AA : Special economic zones-Free Trade Zone-Declaration on Software Technology Parks of India forms sufficient-No Requirement to maintain separate books of account-Entitle to exemption on incremental income arising pursuant to advanced Pricing Agreement (APA).
IBM India Pvt. Ltd. v. ACIT (2020) 83 ITR 24 (Bang.)(Trib.)S. 10A : Free trade zone-Turnover-Expenses to be reduced from export turnover as well as from total turnover.
Akamai Technologies India P. Ltd. v. Dy.CIT (2020) 83 ITR 393 (Bang.)(Trib.)S. 5 : Scope of total income Accrual of income-Dispute in project work and reconciliation-Award of Interest-Not enforceable award or decree-Not acquiring any vested right to receive interest-Notional amount not assessable. [S. 4, 145]
MANI Square Ltd. v. ACIT (2020) 83 ITR 241 (Kol.)(Trib.)