{"id":8361,"date":"2019-11-24T15:11:49","date_gmt":"2019-11-24T15:11:49","guid":{"rendered":"http:\/\/itatonline.org\/digest\/acit-v-eastern-silk-industries-ltd-2019-179-itd-22-kol-trib-4\/"},"modified":"2020-01-19T10:43:34","modified_gmt":"2020-01-19T10:43:34","slug":"acit-v-eastern-silk-industries-ltd-2019-179-itd-22-kol-trib-4","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-eastern-silk-industries-ltd-2019-179-itd-22-kol-trib-4\/","title":{"rendered":"ACIT   v.  Eastern Silk Industries Ltd. (2019) 179 ITD 22\/ 184 DTR 406 (Kol)   (Trib.)"},"content":{"rendered":"<p>Assessee paid\u00a0 DTT subscription to use Deloitte brand. AO held that the expenditure is of capital in nature . \u00a0\u00a0CIT(A) allowed the claim \u00a0as revenue expenditure. On appeal by revenue the Tribunal held that \u00a0there was nothing on record to suggest that assessee had acquired brand or technology for good and, therefore, it could not be concluded that assessee had incurred expenditure for acquiring an asset of enduring benefit. Accordingly the \u00a0subscription paid by assessee to run its business activity more efficiently and profitably was to be allowed as deduction. (AY. 2007 -08 )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.37(1): Business expenditure  &#8211; Capital or revenue &#8211; DTT subscription to use Deloitte-  Brand helped for getting more business- Held to be allowable as business expenditure.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8361","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2aR","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=8361"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8361\/revisions"}],"predecessor-version":[{"id":9283,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8361\/revisions\/9283"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}