bangalore ITAT denies deduction
u/s. 37(1) for payment made by assessee (part of GMR group co.) during AY
2012-13 for sponsoring the Delhi Daredevils team for IPL season-4;
Rejects assessee’s stand that it has derived benefit of advertisement by way of
displaying GMR logo on Delhi Dare Devils outfit; Notes that the logo common for
GMR group was displayed on jersey, observes that nothing was brought on record
to show that assessee’s name was displayed on the jersey; Further noting
that assessee is engaged in the business of civil and highway
construction, ITAT remarks that “assessee has failed to demonstrate….as to how
this expenditure has resulted in getting more projects in infrastructure
industry and further how it is related to the business of assessee.”:ITAT
Subscribe to:
Post Comments (Atom)
HC quashes Customs Instruction mandating review of MOOWR licenses granted for solar power generation
This Tax Alert summarizes a recent judgement of the Delhi High Court (HC) [1] dealing with the validity of the Instruction [2] insofar a...
-
Particulars in Part 1 and Part 2 of Step-2 of registration form are required to be exactly the same as reported in the TDS statement. Plea...
-
1. Introduction: Every trust/charitable society/ NGO that wishes to claim the tax exemption benefits has to file Form 10A to seek fresh re...
-
LEASE-DEED (A brief Introduction) Lease defined. A lease of immovable property is a transfer of a right to enjoy such property, mad...
-
This article talks about important rules for buyers who are registered under GST to follow when they claim Input Tax Credit (ITC). Here ar...
-
The circular of the Board dt. 28.06.1965 No. 17 (XL-36), provides for inspection fees and fees for certified copies of assessment and...
-
NECESSITY : Sometimes, in view of the expansion of the business, multiple increase in turnover and need for getting finances from the ...
-
Filing income tax returns (ITR) within the specified timelines under the Income-tax Act is not just a legal obligation but also crucial fo...
-
This Tax Alert summarizes a recent instruction issued by the SEZ Division, Department of Commerce, clarifying various concerns relating t...
-
On 25 April 2024, the Hon’ble High Court of Karnataka delivered a judgement (W.P. No.18486/2012 and others) striking down the special prov...
No comments:
Post a Comment