Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: ACCOUNTING STANDARD :: empanelment :: due date for vat payment :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: VAT RATES :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India
 
 
From the Courts »
  H.T. MEDIA LIMITED Vs. PRINCIPAL COMMISSIONER OF INCOME TAX-IV, NEW DELHI
 Commissioner Of Income Tax (Ltu), New Delhi Vs. Oriental Insurance Company Ltd.
 Principal Commissioner Of Income Tax (Central)-2 Vs. Index Securities Private Limited
 Income Tax Appellate Tribunal, Ahmedabad Benches, Ahmedabad Constitution For The Period From 18/09/2017 To 22/09/2017
  M/s Brothers & Sisters Enterprise vs. JCIT (ITAT Kolkata)
  Commissioner Of Income Tax, Delhi-Iv Vs. DLF Universal Ltd.
 Commissioner Of Income Tax, Delhi-Iv Vs. DLF Universal Ltd.
 Jcb India Ltd. Vs. Deputy Commissioner Of Income Tax &
 Saheb Ram Om Prakash Marketing Pvt Ltd Vs. Commissioner Of Income Tax & ORS
 Tulsi Tracom Private Limited Vs. Commissioner Of Income Tax – 9
 M/s Brothers & Sisters Enterprise vs. JCIT (ITAT Kolkata)

Income tax appellate tribunal allows tax benefits on first-year exhibition costs
May, 27th 2008

Corporates can add expenditure incurred in exhibitions as business expenses for claiming tax benefits, the Income Tax Appellate Tribunal said in a recent decision.

ITAT gave the ruling was in a case pertaining to the Indian subsidiary of Austrian auto component manufacturer Styler Daimler Puch.

Exhibitions are aimed at propagating business and hence cannot be disallowed for claiming tax benefits by the tax department, ITAT president Vimal Gandhi said while turning down the decision of the assessing officer and commissioner of Income Tax (CIT), Pune.

The case pertains to participation of the Austrian company that set up its subsidiary Styler India, within months of the "Autoexpo 1998" exhibition. The company had included an expenditure of Rs15 lakh in its annual expenses.

While the company claimed the amount as business expenditure, the assessing officer disallowed it saying it cannot claim deductions as it had not started business then.

ITAT, however, ruled that 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.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions