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 Court On Its Own Motion vs. CIT (Delhi High Court) | | Asstt. Commissioner of Income Tax, Central Circle-9, New Delhi Room No. 357, ARA Centre, E-2 vs. M/s Moets Bar-B-Cue,50, Defence Colony Market, New Delhi 110 024 PAN/GIR NO. : AAAFM7936M | | ADIT, Cir. 1(1), (Intl. Taxation), 204, Drum Shape Building, IP Estate, New Delhi 110 002 vs. Ms. Meena Chopra, P-13, Ground Floor,Malviya Nagar, New Delhi | | CIT vs. Awadh Hotels (P) Ltd (Allahabad High Court) | | BEFORE SHRI H.L.KARWA, HON'BLE, VICE PRESIDENT AND SHRI MEHAR SINGH, ACCOUNTANT MEMBER | | BEFORE SHRI H.L.KARWA, HON'BLE, VICE PRESIDENT AND SHRI T.R.SOOD, ACCOUNTANT MEMBER | | Mehsana Circle Vs Mehsana M/s.Shree Riddhi Corporation 32, Amikunj Society Near Technical School, Kalol | | ITO, Ward 40(3), Room No. 307, Mayur Bhavan, vs. Sh. Mohan Lal Walia, Through L/H Mrs. Prem Walia, G-251, Palam Vihar, Gurgaon, | | M/s. All Cargo Global Logistics Ltd.5th Floor, Diamond Square, C.S.T. Road, Kalina, Santacruz (E),Mumbai – 400 098. | | Dy. Commissioner of Income Tax, Circle 6(1), Room No. 413, CR Building, New Delhi vs. Maharani Paints India Pvt. Ltd., TA-3/146-C, Tuglakabad Extn.,New Delhi | | Income Tax Officer, Ward 38(2), Room No. 234A, 2nd floor, CR Bldg., IP Estate, New Delhi vs. Sh. Naresh Kumar Through Legal Heir Sh. Naveen Kumar, 9307, Gaushala Marg, Kishan Ganj Delhi – 110 006 |
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| « Filing of appeals by Income-tax Department - Measures for... | Income tax appellate tribunal allows tax benefits on... » |
Exhibition cost in 1st fiscal too is business expense: ITAT |
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| May, 27th 2008 |
Companies can treat expenditure incurred on participating in autoexpo and other exhibitions as business expenses and claim tax benefits, the Income Tax Appellate Tribunal has said in a recent decision.
Giving its ruling in a hotly-contested case pertaining to the Indian subsidiary of Austrian auto component company Styler Daimler Puch, ITAT said expenditure on exhibitions are aimed to propagate business and hence cannot be disallowed for claiming tax benefits by the tax department.
"All the expenses were aimed to propagate the assessors business... I accordingly allow the expenses," said ITAT President Vimal Gandhi while turning down the decision of the assessing officer and commissioner of Income Tax (CIT), Pune.
The case pertains to participation of Austrian company`s subsidiary Styler India, within months of formation, in autoexpo 1998, on which the company incurred an expenditure of about Rs 15 lakh.
While the company claimed the amount spent as business expenditure, the assessing officer disallowed it saying it cannot claim deductions as it had yet to start business.
Once it was proved that the expense was incurred after the business was set up, the expenses of revenue nature incurred will become admissible for deduction, the tribunal ruled.
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