Where Assessee is continuously in the business of exploration and production of oil, expenditure incurred by it on abandoned project is in normal course of its business and such expenditure is allowable as revenue expenditure
Providing hostel and transport facility to students was incidental to achieve object of providing education & so is not in the nature of business
Another Bonanza in the PipeLine : Bank Loan for Paying dues under Sabka Vishwas – Legal Disputes Resolution Scheme ?
Disallowance of Interest Expenses on the ground that the borrowed funds were used for acquiring Shares of group Companies.
Whether any payment made for the purpose of Know-how acquired in process of manufacturing is a Revenue Expenditure or not ?
Director Identification Number (DIN) : A Mandatory requirement for all the directors as per Companies Act,2013.
In order to reduce the profit Purchases were made at the higher rate and Sales were at the lower rates
CHARTERED ACCOUNTANTS and Advocates are just facilitators for Tax compliance and cannot be liable for prosecution without any corroborative evidence
Property used by the Assessee for the purpose of its business cannot be considered to be a vacant property as per section 23
Interesting case beyond Normal Provision : Lease rentals agreed between the parties were so crafted that they substantially cover present fair value of equipment & cannot be allowed as Revenue expenditure
The claim for exemption cannot be said to have been established either on the principle of mutuality or on the principle of the absence of trade or profit motive
A Bank issuing a Guarantee is not concerned with the underlying contract between the parties to the contact.
Notice in GSTR-3A is for Defaulters of Goods and Services Tax ( GST ) for Return Filing : Non compliance to attract penalty of Rs. 10,000/- or 10% of Tax Due, whichever is Higher
Whether the Keyman Insurance Proceed can be offered to taxation under the head “Capital Gain” – CA Naresh Jakhotia
