S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Advance cash was returned back-Matter remanded.
Ashok Motors v. DCIT (2020) 184 ITD 525 (Gauhati)(Trib.)S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Advance cash was returned back-Matter remanded.
Ashok Motors v. DCIT (2020) 184 ITD 525 (Gauhati)(Trib.)S. 40(a)(ia) : Amounts not deductible-Deduction at source-Interest payment-Second proviso to section 40(a)(ia) coming into effect from 01-04-2012 by Finance Act, 2012, disallowance was to be deleted and, matter was to be remanded back for disposal afresh. [S. 201(1)]
BBR Projects (P.) Ltd. v. ITO (2020) 184 ITD 842 (Hyd.)(Trib.)S. 40(a)(ia) : Amounts not deductible-Deduction at source-Commission to foreign parties-Short deduction of tax at source-No disallowance can be made-Model OECD Convention-Art. 7. [S. 9(1)(i)]
DCIT v. DML Exim (P.) Ltd. (2020) 184 ITD 432 (Rajkot)(Trib.)S. 40(a)(ia) : Amounts not deductible-Deduction at source-Non-resident-Amendment made by Finance Act (No. 2) to section 40(a)(ia) with effect from 01-04-2015, is curative in nature and thus said provision has to be applied retrospectively.
Muradul Haque v. ITO (2020) 184 ITD 58 / 84 ITR 396 (Delhi) (Trib.)S. 37(1) : Business expenditure-Capital or revenue-Technical know-how-For upgrading engines of vehicles so as to make emission normal and also to make vehicles eco-friendly-Capital in nature-Entitle depreciation. [S. 32]
Mahindra & Mahindra Ltd. v. ACIT (2020) 184 ITD 621 (Mum.) (Trib.)S. 37(1) : Business expenditure-Capital or revenue-Expenditure towards joint venture-Held to be capital in nature-Travel expenses-mergers and acquisitions of entities engaged in similar business-Held to be capital in nature-Consultancy fees-For developing new range of tractors and also upgradation of existing range of tractors, said expenditure was to be treated as capital in nature-Staff cost revenue nature.
Mahindra & Mahindra Ltd. v. ACIT (2020) 184 ITD 621 (Mum.)(Trib.)S. 37(1) : Business expenditure-Provision for wages-Pending labour demand regarding incremental wages-Held to be allowable Capital or revenue-Premium on redemption of foreign currency convertible Bonds-Prorate premium payable on redemption of foreign currency convertible Bonds-Allowable as deduction-Issue of foreign currency convertible bonds-Held to be allowable as revenue expenditure-Discount given on issue of employee stock ownership plan-Allowable as business expenditure. Employee’ welfare expenses-Amount paid to an educational institution where children of assessee’s employees were taking education-Held to be allowable as revenue expenditure-Provision made towards warranty-Held to be allowable-Discount on issue of employee stock ownership plan held to be allowable-Professional fee towards acquisition-Entities which did not materialize was to be allowed as revenue expenditure-Abandoned project-Allowable as revenue expenditure.
Mahindra & Mahindra Ltd. v. ACIT (2020) 184 ITD 621 (Mum.)(Trib.)S. 37(1) : Business expenditure-Education expenditure-Personal expenditure-Disallowance is held to be justified. [S. 132]
Harshvardhan Johari v. DCIT (2020) 184 ITD 537 / (2021) 199 DTR 41/210 TTJ 383 (Jaipur)(Trib.)S. 37(1) : Business expenditure-Pharmaceutical company-Freebies to doctors-Gifts as product reminders, travel facilities of doctors, conference of doctors or similar freebies to medical practitioners or their professional associations would not be hit by Explanation 1 to section 37(1).
Medley Pharmaceuticals Ltd. v. DCIT (2020) 184 ITD 8 /207 TTJ 143 (Mum.)(Trib.)S. 37(1) : Business expenditure-Repairs of machinery and replacement of some of its parts-Allowable as business expenditure. [S. 32]
DCIT v. Gulshan Chemicals Ltd. (2020) 184 ITD 71 / 208 TTJ 153 / (2021) 197 DTR 274 (Delhi)(Trib.)