[aaykarbhavan] Fw: Pre-Print Highlights of ITR(Trib) from CLI
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From: "info@cliofindia.com" <info@cliofindia.com>
To: newsletter@cli.in
Sent: Friday, 25 January 2013 8:52 AM
Subject: Pre-Print Highlights of ITR(Trib) from CLI
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ITR'S TRIBUNAL TAX REPORTS (ITR (Trib)) HIGHLIGHTS
APPELLATE TRIBUNAL ORDERS |
F Business expenditure : Service tax paid before due date for filing return not applicable u/s 43B : Dy. CIT v. Ovira Logistics P. Ltd. (Mumbai) p. 436
F Expenditure on maintenance of software, revenue expenditure : Dy. CIT v. Ovira Logistics P. Ltd. (Mumbai) p. 436
F Bad debts written off in accounts, treated as income in earlier years, deductible : HSBC Securities and Capital Markets (India) P. Ltd. v. Asst. CIT (Mumbai) p. 445
F Licence fees for acquiring software for running computers, revenue expenditure : HSBC Securities and Capital Markets (India) P. Ltd. v. Asst. CIT (Mumbai) p. 445
F Deduction of tax at source : "Discount" allowed on sale of recharge coupons amounts to commission, deductible : Cellular Mobile Telecom Services v. ITO (Chennai) p. 456
F Receipts on TDRs not taxable under capital gains : Land Breez Co-operative Housing Society Ltd. v. ITO (Mumbai) p. 467
F Interest-free advances made from interest-free funds allowable as business expenditure : Pranik Shipping and Services Ltd. v. Asst. CIT (Mumbai) p. 489
F Where no liability to TDS u/s 194A, section 40(a)(ia) not applicable : Pranik Shipping and Services Ltd. v. Asst. CIT (Mumbai) p. 489
F Company : Unascertained liability to be added in computation of book profits : Eastern India Powertech Ltd. v. Addl. CIT (Delhi) p. 542
F Advance tax : Levy of interest u/s 234B mandatory : Eastern India Powertech Ltd. v. Addl. CIT (Delhi) p. 542
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