Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Whether advertising expenditure is revenue or capital: applying statutory principles and binding precedent, the court rejected estoppel against the statute and held that characterization in books does not override tax law; relying on Supreme Court authority and Gujarat HC precedent, such advertisement outlays are not capitalizable but are revenue expenditures deductible under the Act. Consequence: the assessment treating the expenditure as capital was set aside and the appeal allowing deduction was allowed. - HC
Whether advertising expenditure is revenue or capital: applying statutory principles and binding precedent, the court rejected estoppel against the statute and held that characterization in books does not override tax law; relying on Supreme Court authority and Gujarat HC precedent, such advertisement outlays are not capitalizable but are revenue expenditures deductible under the Act. Consequence: the assessment treating the expenditure as capital was set aside and the appeal allowing deduction was allowed. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
