Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
Recurring advertising, publicity and sales-promotion expenditure, including visual printing, promotional activities, website applications, hoardings, radio advertising, event management and sponsorships, constitutes revenue expenditure where it supports business in a competitive market without creating a capital asset or enduring benefit. Consistency in income-tax assessments requires the Revenue not to depart from treatment accepted in earlier and later years, including scrutiny assessments, unless fundamental facts materially change. On those principles, capitalisation of the expenditure was rejected and the corresponding addition deleted; other grounds remained open.
Recurring advertising, publicity and sales-promotion expenditure, including visual printing, promotional activities, website applications, hoardings, radio advertising, event management and sponsorships, constitutes revenue expenditure where it supports business in a competitive market without creating a capital asset or enduring benefit. Consistency in income-tax assessments requires the Revenue not to depart from treatment accepted in earlier and later years, including scrutiny assessments, unless fundamental facts materially change. On those principles, capitalisation of the expenditure was rejected and the corresponding addition deleted; other grounds remained open.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
