S. 40(a)(ia) : Amounts not deductible-Deduction at source– Subsidiary company-Reimbursement of expenses-Not liable to deduct tax at source-No disallowance can be made. [S. 195]
PCIT v. Manugraph India (P) Ltd. (2019) 267 Taxman 437 (Bom.) (HC)S. 40(a)(ia) : Amounts not deductible-Deduction at source– Subsidiary company-Reimbursement of expenses-Not liable to deduct tax at source-No disallowance can be made. [S. 195]
PCIT v. Manugraph India (P) Ltd. (2019) 267 Taxman 437 (Bom.) (HC)S. 37(1) : Business expenditure–Capital or revenue–Proportionate rent and lease premium-Held to be revenue expenditure.
Balmer lawrie & Co. Ltd. v. CIT (2019) 310 CTR 724 / 181 DTR 401 (Cal.)(HC)S. 37(1) : Business expenditure–Capital or revenue–Foreign currency convertible Bond-(FCCB) issuing expenses–Held to be allowable as revenue expenses.
PCIT v. Reliance Natural Resources Ltd. (2019) 267 Taxman 644 (Bom.)(HC)/Editorial : SLP of Revenue dismissed , PCIT v. Reliance Natural Resources Ltd. (2022) 286 Taxman 435 (SC)S. 37(1) : Business expenditure–Raising loan-Capital or revenue-Expenses for issuing Foreign Convertible Bond only on interpretation of DTAA-Question of law. [S. 260A]
PCIT v Reliance Natural Resources Ltd. (2019) 267 Taxman 644 (Bom.)(HC)/Editorial : SLP of Revenue dismissed , PCIT v. Reliance Natural Resources Ltd. (2022) 286 Taxman 435 (SC)S. 37(1) : Business expenditure-Joint Venture with State Industrial Corporation-Subsequent winding up of joint venture company — Amount paid as guarantor under the Scheme of BIFR is held to be allowable as deduction.
CIT v. Apollo Tyres Ltd. (2019)419 ITR 100 /(2020) 274 Taxman 258 (Ker.)(HC)S. 37(1) : Business expenditure–Deferred expenditure-No concept of deferred revenue expenditure–Expenditure is allowable as deduction.
PCIT v. Manugraph India (P) Ltd ( 2019) 267 Taxman 437 (Bom.)(HC)S. 36(1)(iii) : Interest on borrowed capital–Interest and finance charges-loans taken for investment in acquiring controlling interest in a foreign subsidiary which is in same line of business-Allowable as expenditure. [S. 37(1)]
PCIT v. Concentrix Services (I) (P.) Ltd. (2019) 267 Taxman 625 (Bom.)(HC)S. 36(1)(iia) : Weighted deduction–Salary paid to blind or physically handicapped persons–Computation-Salary to be taken after allowance of standard deduction. [S. 16]
Pieco Electronics & Electricals Ltd. v. CIT (2019) 267 Taxman 548 /(2020) 187 DTR 19/ 313 CTR 243(Cal.)(HC)S. 32 : Depreciation-Moulds – Depreciation at 30 % or 10%-Glass manufacturing concern-Matter remanded to the Tribunal. [S.254(1)]
Pieco Electronics & Electricals Ltd. v. CIT (2019) 267 Taxman 548 /(2020) 187 DTR 19/ 313 CTR 243(Cal.)(HC)S. 32 : Depreciation-Entitled to depreciation in respect of assets which were discarded or scrapped during previous year-Not necessary that such assets were actually sold during year.
Pieco Electronics & Electricals Ltd. v. CIT (2019) 267 Taxman 548/(2020) 187 DTR 19/ 313 CTR 243 (Cal.)(HC)