S. 37(1) : Business expenditure–Disproportionate increase in expenses-Disallowance of 10% of the business promotion expenses is held to be justified.
ACIT v. Rohit Kochar (2018) 68 ITR 67 (SN) (Delhi) (Trib.)S. 37(1) : Business expenditure–Disproportionate increase in expenses-Disallowance of 10% of the business promotion expenses is held to be justified.
ACIT v. Rohit Kochar (2018) 68 ITR 67 (SN) (Delhi) (Trib.)S. 36(1)(vii) : Bad debt- Unrealizable subscription dues from the cable operators written off by the assessee in the books of accounts is allowable as bad debts.
Sun TV Network Ltd v. ACIT (2018) 196 TTJ 944 / 172 DTR 345 (Chennai)(Trib.)S. 36(1)(iii) : Interest on borrowed capital–No proportionate disallowance of interest can be made unless the department establishes that the borrowed funds were utlilised for advancing interest free funds to relatives.
ACIT v. Rohit Kochar (2018) 68 ITR 67 (SN) (Delhi) (Trib.)S. 36(1)(iii) : Interest on borrowed capital–Provision for interest on funds provided by government–Held to be allowable, subject to verification of payments in the subsequent years.
M. P. Police Housing Corporation Ltd. v. ACIT (2018) 68 ITR 53 (Indore)(Trib.)S. 32 : Depreciation-Film and serial broadcasting rights -Intangible assets – Entitle to depreciation. [S. 37(1)]
Sun TV Network Ltd. v. ACIT (2018) 196 TTJ 944 / 172 DTR 345(Chennai)(Trib.)S. 14A : Disallowance of expenditure – Exempt income – No disallowance in relation to shares and securities held as stock in trade and where owned funds are more than the value of shares and securities. [R. 8D]
Rajasthan State Industrial Development & Investment Corporation Ltd v. DCIT (2018) 195 TTJ 35 (Jaipur)(Trib.)S. 10B : Export oriented undertakings–Interest free funds- Artificially imputing non-existent interest costs and denying deduction to the assessee was held to be not justified. [S.10B(7), 80IA(10)]
Nabros Pharma Ltd. v. ACIT (2018) 68 ITR 6 (SN) (Ahd.) (Trib.)S 10(13A) : Exemption—Special allowance—House property loss— Employees claiming interest on housing loan and also exemption on account of house rent allowance are governed by two independent provisions-Entitle exemption. [S. 22, 192]
ACIT v. Shri SDV International Logistics Ltd. (2018) 68 ITR 35 (SN) (Kol.)(Trib.)S. 4 : Charge of income tax–Capital or revenue-Subsidy-Additional Admitted -Excise duty refund and interest subsidy received from Government for setting up of an industry in the backward area was to be treated as a capital receipt. [S.28(i), 254(1)]
Kashmir Steel Rolling Mills v. DCIT (2018) 195 TTJ 125 / 169 DTR 137 (Asr.)(Trib.)S. 12AA : Procedure for registration –Trust or institution- Registration cannot be refused on the ground that all initial trustees had taken citizenship of foreign country – Order of CIT(E) rejection of registration and application u/s 80G is set aside .[S.80G ,FEMA , 1999, S.6(5), Indian Trust Act 1882 , S 10,.60, 73 ]
Global Academy of Emergency Medicine v. CIT( 2018) 196 TTJ 273 / 171 DTR 73/(2019) 175 ITD 96 (Delhi) (Trib.)