Notification No. 53/2011, Deduction under s 44A , Direct Tax Circular No. 7, Business expenditure & Deduction under s 35AB

---------- Forwarded message ----------
From: CA Saiprasad Bagrecha <saiprasadbagrecha@gmail.com>

Dear All,

Please find enclosed text on the above topics along with case facts.

 

• http://www.indiantaxhome.com/2011/10/notification-no-532011-dated-30-9-2011.html

 

Section 35(1)(ii) of the Income-tax Act, 1961 - Scientific Research Expenditure --

Approval of Council of Scientific and Industrial Research (CSIR) as an organization in

the category of 'Other Institution' for purpose of section 35(1)(ii)

 

• http://www.indiantaxhome.com/2011/10/deduction-under-s-44a.html

 

The amount expended by assessee, a registered society for the purpose of protection or advancement of the common interest of its members, will be allowable as deduction — as held by DelTrib in ADIT v Hologram Manufacturers Association — In favour of: The assessee.

 

• http://www.indiantaxhome.com/2011/10/direct-tax-circular-no-7-dated-27-09.html

Amendment to Circular No.7/2007 regarding Procedure for refund of tax deducted at

source under section 195 to the person deducting tax

 

1. Kindly refer to the above subject.

The Board had issued Circular No. 7/2007 and 23.10.2007 laying down the procedure for

refund of tax deducted at source under section 195 of the Income Tax Act, 1961 to the person

deducting tax at source from the payment to a non-resident.

 

• http://www.indiantaxhome.com/2011/10/business-expenditure.html

Expenses on tea, coffee, snacks, etc, provided to the customers, suppliers, agents, contractors, technicians, etc, did not constitute entertainment expenses within the meaning of s 37(2) of the Act read with cl (iii) of Explanation thereto — as held by MumHC in CIT v Grasim Industries Ltd — In favour of: The assessee.

 

• http://www.indiantaxhome.com/2011/10/deduction-under-s-35ab.html

Deduction under s 35AB of the Act is allowable if assessee uses the technical knowhow to get the goods manufactured through a third party under its direct supervision and control — as held by MumHC in CIT v Sarabai Piramal Pharmaceuticals Ltd — In favour of: The assessee.

 

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CA Saiprasad P. Bagrecha 

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