Mechanical approval under search assessment law vitiates assessments when sanction lacks application of mind; retrospective curative provision cannot ...
Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
Page of 4792
Press 'Enter' after typing page number.
1881 to 1900 of 95833 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Annual IPL franchise fee was treated as revenue expenditure because it only enabled participation for the year and did not create an enduring asset; the Revenue challenge failed. Travel, hospitality and related match-arrangement expenses were sustained as business expenditure, subject only to limited verification of supporting bills. Website development expense was also allowed as revenue in nature. Club membership expenditure used for business meetings and interactions was held allowable under section 37(1). Salary provision under mercantile accounting and bonus paid before the return filing due date were held to be accrued and allowable liabilities, so the disallowance was deleted. The Revenue appeals were dismissed.
Annual IPL franchise fee was treated as revenue expenditure because it only enabled participation for the year and did not create an enduring asset; the Revenue challenge failed. Travel, hospitality and related match-arrangement expenses were sustained as business expenditure, subject only to limited verification of supporting bills. Website development expense was also allowed as revenue in nature. Club membership expenditure used for business meetings and interactions was held allowable under section 37(1). Salary provision under mercantile accounting and bonus paid before the return filing due date were held to be accrued and allowable liabilities, so the disallowance was deleted. The Revenue appeals were dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
