Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
The case dealt with whether advertisement expenditure (deferred revenue) qualifies as allowable revenue expenditure. The assessee recorded different entries in audited books and income tax return, with no provision for deferred revenue expenditure under the IT Act. ITAT allowed deduction. The High Court referenced a previous judgment in a similar matter involving the assessee, where Revenue did not contest. Additionally, the case addressed the addition of expenses for workmen and staff welfare u/s 40A (9). The High Court upheld the Tribunal's decision favoring the assessee, citing a previous assessment year ruling in the assessee's favor.
The case dealt with whether advertisement expenditure (deferred revenue) qualifies as allowable revenue expenditure. The assessee recorded different entries in audited books and income tax return, with no provision for deferred revenue expenditure under the IT Act. ITAT allowed deduction. The High Court referenced a previous judgment in a similar matter involving the assessee, where Revenue did not contest. Additionally, the case addressed the addition of expenses for workmen and staff welfare u/s 40A (9). The High Court upheld the Tribunal's decision favoring the assessee, citing a previous assessment year ruling in the assessee's favor.
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