Daily digest for Gupta Chandan & Associates, on May 4, 2022

posted: "INCOME TAX : Where assessee is involved in production and exhibition of tele-serials, expenditure incurred for production of tele-serials cannot be considered as capital in nature, because it does not give enduring benefit to assessee and is definitely re" Exp. incurred in production and exhibition of tele-series cannot be considered as capital in nature: ITAT May 4 INCOME TAX : Where assessee is involved in production and exhibition of tele-serials, expenditure incurred for production of tele-serials cannot be considered as capital in nature, because it does not give enduring benefit to assessee and is definitely revenue in natureINCOME TAX : Where assessee is involved in production and exhibition of tele-serials, expenditure incurred […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com Powered by Jetpack

posted: "INCOME TAX : Where in case of assessee trust, except for providing a bar room, all other activities of providing swimming pool facilities for aquatic events and training and facilities for other sports and squash, billiards and table tennis etc., were act" No denial of sec. 11 relief to 'Navi Mumbai Sports Assoc.' merely because its activities include facility of bar room May 4 INCOME TAX : Where in case of assessee trust, except for providing a bar room, all other activities of providing swimming pool facilities for aquatic events and training and facilities for other sports and squash, billiards and table tennis etc., were activities of carrying out object of general public utility, assessee trust was a charitable […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com Powered by Jetpack

posted: "INCOME TAX : Where assessee a retired professional cricketer received ex-gratia payment from BCCI which was claimed as capital receipt not chargeable to tax and AO brought said sum to tax under section 56(2)(vii) without ascertaining whether registration " Ex-gratia payment received by 'Sunil Joshi' isn't taxable if BCCI holding sec. 12AA registration: ITAT May 4 INCOME TAX : Where assessee a retired professional cricketer received ex-gratia payment from BCCI which was claimed as capital receipt not chargeable to tax and AO brought said sum to tax under section 56(2)(vii) without ascertaining whether registration of BCCI was restored under section 12AA for relevant assessment year or not, in such a case […] Read more of this post Comment Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com Powered by Jetpack