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Whether expenditure on upgrading computers are allowable as revenue expenditure?

April 9, 2009

CIT v. Southern Roadways Ltd. (2007) 288 ITR 15 (Mad.)Relevant section: 37The High Court held that the upgradation of computers by changing certain parts thereby enhancing the configuration of the computers for improving their efficiency, but without making any structural alterations is not change of an enduring nature. Therefore, the expenditure incurred by the assessee [...]

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Whether excess charges paid by the assessee for using excess load of electricity was allowable business expenditure?

April 9, 2009

CIT, Patiala v. Industrial Cables (India) Ltd. (2007) 162 Taxman 423 (Punj. & Har.)Relevant section: 37(1)The Tribunal recorded a finding that the amount paid by the assessee was a kind ofsurcharge levied for drawal of excess load as per the PSEB Rules and not penalty. Theassessee had used the excess load in the course of [...]

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Vodafone International vs. UOI (Bombay High Court)

December 5, 2008

Vodafone has been ordered to pay up $2 billion in capital gains tax by an Indian court.
Where the assessee, a Dutch company, purchased shares of a Cayman Company (which in turn held shares of an Indian company ‘Hutch Essar’) from another foreign company (HTIL) and the AO issued a notice asking the assessee why it [...]

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