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Registration of a charitable institution cannot be cancelled merely for carrying on commercial activities

Registration of a charitable institution cannot be cancelled merely for carrying on commercial activities

The Hon’ble Bombay High court in the case of DIT (Appellant) vs. M/s. Khar Gymkhana (Respondent) being Income Tax Appeal No. 2349 of 2013 has held that registration of a charitable institution cannot be cancelled merely for carrying on commercial activities. It has been further held that the registration of a charitable institution can be cancelled only if the acts ... Read More »

Can expenses on voluntary Corporate Social Responsibility be allowed as business expenditure?

Can expenses on voluntary Corporate Social Responsibility be allowed as business expenditure?

The Income Tax Appellate Tribunal in the case of Assistant Commissioner of Income Tax Circle 1(1), Bilaspur (Appellant) vs. Jindal Power Limited (Respondent) Tanmar, Raigarh 496107 having PAN: AABCJ4683J, in connection with Assessment year 2008-09 being I.T.A. No. 99/BLPR/2012 has held that voluntary expenses on Corporate Social Responsibility can be allowed as business expenditure. The bench comprising of Pramod Kumar ... Read More »

A case of Capital vs. Revenue expenditure with repairs

A case regarding Expenditure on repairs in rented premises. It is huge even accumulated with allowable revenue expenditure. The case was heard by H. S. Sidhu (JM) and Prashant Maharishi (AM), whereas Ananya Kapoor and Salil Kapoor were the responsible persons. An admitted considered as evidence has forced no justification, therefore for seeking a specific set aside to form a remand ... Read More »