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II. Direct Tax Case laws:
1. DIT Vs. M/S E FUNDS IT SOLUTION, ITA No. 735/2011, Date of Order : 05.02.2014, High Court of Delhi.
Delhi
High Court explains entire law on taxability of Permanent Establishment
under DTAA, impact of Mutual Agreement Procedure (MAP) and computation
of profits attributable to PE.
(Please Click here to view Judgement)
2.
Commissioner of Income-tax-II, Chandigarh v. Bazaar Decor (India) (P.)
Ltd., IT APPEAL NO. 343 OF 2009 (O&M), DATE OF ORDER 19.09.2013
Free sample distribution expenses were allowable under section 37(1) even though there was no effective sale during year
Wherever an expenditure is incurred by an assessee and it does not
fall under any of the category which is not admissible, the expenditure
would be allowed as a deduction while computing the income under the
head 'Income from business or profession'. The aforesaid section nowhere
provides that unless actual sales take palce, the deduction would not
be admissible. It is intended to explore future sale of such
commodities. Further, the provision nowhere envisages that the
expenditure would be admissible only where such expenditure results in
earning of income.
(Please Click here to view Judgement)
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