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“legal expenses”

Business ExpensesSection 37Section 37273 judgments

The decision most relied on for legal expenses is CIT v. Calcutta Agency Ltd. (19 ITR 191), cited in 164 judgments on BharatTax.

Leading authorities on legal expenses

CIT v. Calcutta Agency Ltd.
19 ITR 191 · 1951 · Supreme Court
164
citing judgments

The assessee bears the burden of proving necessary facts to claim deductions. If the assessee fails to establish these facts, the deduction is not admissible.

CIT v. Goetze (India) Ltd.
361 ITR 505 · 2014 · High Court
121
citing judgments

Disallowance under Section 14A for expenses relating to exempt income is required while computing book profit under Section 115JB. An Assessing Officer's order is erroneous for revision under Section 263 if the view taken was not plausible, legally unsustainable, and incorrect, requiring a recorded finding.

Kesoram Industries & Cotton Mills Ltd. v. CIT
196 ITR 845 · 1992 · High Court
61
citing judgments

Expenditure incurred for exploring the feasibility of expanding or extending an existing business by setting up a new unit in the same line of business is revenue expenditure, not capital expenditure. Such expenditure, including obtaining project reports or legal opinions on desirability or feasibility, does not constitute the setting up of a new business.

Commissioner of Income Tax v. India Discount Co. Ltd.
75 ITR 191 · 1970 · Supreme Court
46
citing judgments

Accounting entries do not override the legal effect of a transaction, and the legality of any transaction must be established independently. The mere nomenclature of an entry in the books of accounts is not determinative of the true nature of the transaction.

CIT v. Ganga Properties Ltd.
199 ITR 94 · 1993 · High Court
46
citing judgments

Expenditure incurred by a company for the purpose of its business, including expenses to fulfill statutory legal obligations or those related to an erstwhile business post-transfer, is allowable as revenue expenditure under Section 37 of the Income-tax Act.

CIT v. Finlay Mills Ltd.
20 ITR 475 · 1951 · Supreme Court
38
citing judgments

Expenditure that is incurred for the protection of a running business without generating a new asset is deductible as a business expense. Such expenditure does not result in an enduring benefit of a capital nature.

CIT v. Bombay Dyeing and Manufacturing Co. Ltd.
219 ITR 521 · 1996 · Supreme Court
28
citing judgments

Expenses incurred on amalgamation, legal and professional fees, and contributions to a State Housing Board for worker tenements are considered revenue expenditure, not capital expenditure. This is because these expenditures do not result in an enduring benefit and are part of the company's operational costs.

Sayaji Iron & Engineering Co. v. CIT
121 Taxmann 43 · 2002 · High Court
27
citing judgments

Expenses incurred by a company cannot be considered personal, as a company is an artificial legal entity incapable of incurring personal expenses. Therefore, disallowances on this basis are not sustainable.

Judgments citing legal expenses

Sandeep Kherada, Jaipur vs. The Income Tax Officer, Jaipur

In the result, the appeal of the assessee is partly allowed

ITA 610/JPR/2023[2013-14]Status: DisposedITAT Jaipur29 Feb 2024AY 2013-14

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. Tarun Mittal (CA)For Respondent: MS Alka Gautam (CIT)(V.H)
Section 131Section 144

Conveyance Expenses 7,560/- 3. Composition fees 15,500/- 4. Electricity Charges 5,500/- 5. Interest on Loan 35,000/- 6. Legal Expenses 1,500/- 7. Travelling Expenses 17,386/- 8. Office Rent 40,300/- 9. Telephone Expenses 7,440/- TOTAL 2,21,196/- Ld. CIT(A) has confirmed ... expenses at serial no. 3,4,5, 6 & 8 are either payment to Government department or in the nature of Composition fees, Electricity expenses, Legal Expenses, Interest on Loan, office rent where there is no scope of personal use and which itself constitutes 97,800/- and disallowance out of these

Trafigura Global Services Pvt Ltd, Mumbai vs. ACIT, Circle-14(3)(1), Mumbai

ITA 3631/MUM/2023[2017-18]Status: DisposedITAT Mumbai29 Feb 2024AY 2017-18

Bench: SHRI PRAHSANT MAHARISHI, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Mahdur AgarwalFor Respondent: Shri P.D. Chougule
Section 143(3)Section 37(1)

11/10/2018. In response, the Appellant filed following break-up giving the details of expenses along with supporting documents: Nature of Expenses Amount (INR) Arbitration & Legal expenses 45,88,329 Transportation expenses 65,51,000 Storage cost 55,66,320 Site testing charges 5,63,500 Dismantling of furniture & fit outs

Roop Kumar Chopra, Jaipur vs. PCIT Jaipur 1, Jaipur

In the result, the appeal of the assessee is allowed

ITA 264/JPR/2023[2018-19]Status: DisposedITAT Jaipur28 Feb 2024AY 2018-19

Bench: Him By The Assessee In Compliance To The Notice Notices Issued To Him U/S 142(1) As Well As U/S 143(2) Of The Act By The Ao As Erroneous In So Far As It Is Prejudicial To The Interest Of The Revenue For The Purpose Of Section 263 Of The Act & Consequently Setting Aside The Assessment Order Passed Dated 01-01-2021 To Be Made Afresh Made Is Most Arbitrarily, Unjust, Untenable & Liable To Be Vacated.’’

For Appellant: Shri Dheeraj Borad, CAFor Respondent: Shri Ajay Malik, CIT
Section 142(1)Section 142(2)Section 143Section 143(2)Section 143(3)Section 263Section 57

various other expenses claimed u/s. 57 in the nature of brokerage paid at Rs. 21,32,687/-, bank charges at Rs. 213/- and legal expenses at Rs. 17,300/- during the previous year ended on 31.03.2018. iv. In the course of assessment proceeding as well as before the ld. PCIT ... interest earned are interest paid at Rs. 2,06,07,468/-, brokerage paid at Rs. 21,32,687/-., bank charges at Rs. 213/- and legal expenses at Rs. 17,300/-. v. It is further submitted that in addition to the interest earned at Rs. 1,25,50,652/- from various

Zydus Lifesciences Limited (Formerly Known As Cadila Healthcare Ltd.), Ahmedabad vs. DCIT, Circle-1(1)(2), Ahmedabad

In the result, the appeal of the assessee is partly allowed in above terms

ITA 1884/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad23 Feb 2024AY 2015-16

Bench: Smt.Annapurna Gupta & Ms. Suchitra Raghunath Kambleassessment Year : 2015-16 Zydus Lifesciences Ltd. (Formerly Vs. The Dcit, Cir.1(1)(2) Known As Cadila Healthcare Ltd., Ahmedabad. 4Th Floor, D-Wing, Zydus Corporate Park, Scheme No.63, Survey No.536, Khoraj (Gandhinagar), Nr.Vaishnodvi Circle, Sg Highway, Ahmedabad Pan : Aaacc 6253 G (Applicant) (Responent) Assessee By : Shri Jigar Patel, Ar Revenue By : Shri Sudhendu Das, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 29/11/2023 घोषणा क" तारीख /Date Of Pronouncement: 23/02/2024 आदेश/O R D E R आदेश आदेश आदेश Per Annapurna Gupta

For Appellant: Shri Jigar Patel, ARFor Respondent: Shri Sudhendu Das, CIT-DR
Section 143(3)Section 144C(13)Section 92B

assessee as the US AE is admittedly, and beyond dispute, only an LRD. The same is the position with respect to the legal expenses. It has been specifically explained by the assessee, and this explanation has not even been called into question, that the US AE was holding the ANDAs ... because, at the end of the day, the beneficiary is only the assessee company. Yet, the TPO has held the legal expenses to be not at an arm's length price only because the ANDA in question was held by the US AE. Whosever owns the IPRs in question

Bhagirath Yadav, Jaipur vs. Income Tax Officer, Jaipur

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 742/JPR/2023[2012-13]Status: DisposedITAT Jaipur13 Feb 2024AY 2012-13

Bench: This Office That The Appellant Has Stated That The Appellant Has Invested Of Rs. 29,32,775/- In Accordance The Provision Of Section 54B Of Income Tax Act, 1961 To Purchases Agricultural Land Out Of Sale Consideration Of Rs.37,64,082/-

For Appellant: Sh. Yogesh Kumar Sharma (Adv.)For Respondent: Sh. Monisha Choudhary (Addl.CIT)
Section 10(37)Section 139(1)Section 144Section 2(14)Section 54Section 54BSection 54DSection 54ESection 54FSection 54G

decided on 15/02/1999 . As a proof of such case, Final Decree is also attached herewith As Annexure-4. Further we had incurred some legal expenses such as Advocate fees during the year 1996 to 1999 , approx 1,29,167/- as my share. Hence the such cost of legal expenses ... above sold agricultural land, a civil suit was filed for partitions in 1996 and such case was decided on 15/02/1999. Further assessee incurred some legal expenses such as Advocate fees during the year 1996 to 1999, approx 3,50,000/- Share in such expenses was 1,29,167/- according

Qrg Central Hospital and Research Centre Ltd, New Delhi vs. ACIT, Circle-20(2), New Delhi

In the result, both the appeals of the assessee are allowed

ITA 4283/DEL/2018[2015-16]Status: DisposedITAT Delhi07 Feb 2024AY 2015-16

Bench: Shri Saktijit Dey & Shri M. Balaganeshqrg Central Hospital Research Vs. Acit, Centre Ltd, Circle-21(2), 909, 9Th Floor, Surya Kiran New Delhi Building, Kg Marg, Connaught Place, New Delhi (Appellant) (Respondent) Pan:Aaacq1682M Qrg Central Hospital Research Vs. Acit, Centre Ltd, Circle-20(2), 909, 9Th Floor, Surya Kiran New Delhi Building, Kg Marg, Connaught Place, New Delhi (Appellant) (Respondent) Pan:Aaacq1682M Assessee By : Dr. Rakesh Gupta, Adv Shri Deepesh Garg, Adv Revenue By: Shri S. L. Anuragi, Sr. Dr Date Of Hearing 14/11/2023 Date Of Pronouncement 07/02/2024

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri S. L. Anuragi, Sr. DR
Section 143(3)Section 15Section 23Section 28Section 37

allowed as expenses wholly and exclusively for business purposes. ITA No.4854/Del/2017 & 4283/Del/2018 QRG Central Hospital Research Centre Ltd 4.1. Further the assessee also incurred legal expenses of Rs 3,76,069/- on case filed under PNDT Act instituted by the State Government against the assessee company ... time being in force as per Explanation to Section 37 of the Act and hence to be disallowed. 4.2. Similarly legal expenses of Rs 1,79,776/- was incurred in connection with a complaint filed by the Haryana State Pollution Control Board against the assessee for not obtaining environmental clearance

Qrg Central Hospital and Research Centre Ltd, New Delhi vs. ACIT, Circle-21(2), New Delhi

In the result, both the appeals of the assessee are allowed

ITA 4854/DEL/2017[2014-15]Status: DisposedITAT Delhi07 Feb 2024AY 2014-15

Bench: Shri Saktijit Dey & Shri M. Balaganeshqrg Central Hospital Research Vs. Acit, Centre Ltd, Circle-21(2), 909, 9Th Floor, Surya Kiran New Delhi Building, Kg Marg, Connaught Place, New Delhi (Appellant) (Respondent) Pan:Aaacq1682M Qrg Central Hospital Research Vs. Acit, Centre Ltd, Circle-20(2), 909, 9Th Floor, Surya Kiran New Delhi Building, Kg Marg, Connaught Place, New Delhi (Appellant) (Respondent) Pan:Aaacq1682M Assessee By : Dr. Rakesh Gupta, Adv Shri Deepesh Garg, Adv Revenue By: Shri S. L. Anuragi, Sr. Dr Date Of Hearing 14/11/2023 Date Of Pronouncement 07/02/2024

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri S. L. Anuragi, Sr. DR
Section 143(3)Section 15Section 23Section 28Section 37

allowed as expenses wholly and exclusively for business purposes. ITA No.4854/Del/2017 & 4283/Del/2018 QRG Central Hospital Research Centre Ltd 4.1. Further the assessee also incurred legal expenses of Rs 3,76,069/- on case filed under PNDT Act instituted by the State Government against the assessee company ... time being in force as per Explanation to Section 37 of the Act and hence to be disallowed. 4.2. Similarly legal expenses of Rs 1,79,776/- was incurred in connection with a complaint filed by the Haryana State Pollution Control Board against the assessee for not obtaining environmental clearance

The Asstt. Commissioner of Income Tax, Circle-2(1) (1), Ahmedabad vs. M/S. Intas Pharmaceuticals Pvt. Ltd., Ahmedabad

Accordingly the claim of expenditure is allowed as revenue

ITA 1646/AHD/2017[2011-12]Status: DisposedITAT Ahmedabad31 Jan 2024AY 2011-12

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. AdvocateFor Respondent: Dr. Darsi Suman Ratnam, CI

disallowance of debenture issue expenses for the reason that these expenses were incurred before the issue of debentures which are in the nature of legal expenses and services charges and hence cannot be incurred in normal course of business. These expenses were held to be capital expenses

The Asstt. Commissioner of Income Tax, Circle-2(1) (1), Ahmedabad vs. M/S. Intas Pharmaceuticals Pvt. Ltd., Ahmedabad

Accordingly the claim of expenditure is allowed as revenue

ITA 1645/AHD/2017[2010-11]Status: DisposedITAT Ahmedabad31 Jan 2024AY 2010-11

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. AdvocateFor Respondent: Dr. Darsi Suman Ratnam, CI

disallowance of debenture issue expenses for the reason that these expenses were incurred before the issue of debentures which are in the nature of legal expenses and services charges and hence cannot be incurred in normal course of business. These expenses were held to be capital expenses

The Assistant Commissioner of Income Tax, Circle-2(1)(1), Ahmedabad vs. Intas Pharmaceuticals Pvt. Ltd., Ahmedabad

Accordingly the claim of expenditure is allowed as revenue

ITA 1644/AHD/2017[2009-10]Status: DisposedITAT Ahmedabad31 Jan 2024AY 2009-10

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. AdvocateFor Respondent: Dr. Darsi Suman Ratnam, CI

disallowance of debenture issue expenses for the reason that these expenses were incurred before the issue of debentures which are in the nature of legal expenses and services charges and hence cannot be incurred in normal course of business. These expenses were held to be capital expenses

Intas Pharmaceuticals Ltd., Ahmedabad vs. The Assistant Commissioner of Income Tax, Circle-2(1)(1), Ahmedabad

Accordingly the claim of expenditure is allowed as revenue

ITA 1336/AHD/2017[2011-12]Status: DisposedITAT Ahmedabad31 Jan 2024AY 2011-12

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. AdvocateFor Respondent: Dr. Darsi Suman Ratnam, CI

disallowance of debenture issue expenses for the reason that these expenses were incurred before the issue of debentures which are in the nature of legal expenses and services charges and hence cannot be incurred in normal course of business. These expenses were held to be capital expenses

Intas Pharmaceuticals Ltd., Ahmedabad vs. The Assistant Commissioner of Income Tax, Circle-2(1)(1), Ahmedabad

Accordingly the claim of expenditure is allowed as revenue

ITA 1335/AHD/2017[2010-11]Status: DisposedITAT Ahmedabad31 Jan 2024AY 2010-11

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. AdvocateFor Respondent: Dr. Darsi Suman Ratnam, CI

disallowance of debenture issue expenses for the reason that these expenses were incurred before the issue of debentures which are in the nature of legal expenses and services charges and hence cannot be incurred in normal course of business. These expenses were held to be capital expenses

Intas Pharmaceuticals Ltd., Ahmedabad vs. The Assistant Commissioner of Income Tax, Circle-2(1)(1), Ahmedabad

Accordingly the claim of expenditure is allowed as revenue

ITA 1334/AHD/2017[2009-10]Status: DisposedITAT Ahmedabad31 Jan 2024AY 2009-10

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. AdvocateFor Respondent: Dr. Darsi Suman Ratnam, CI

disallowance of debenture issue expenses for the reason that these expenses were incurred before the issue of debentures which are in the nature of legal expenses and services charges and hence cannot be incurred in normal course of business. These expenses were held to be capital expenses

M. R. Sivakumar, Chennai vs. ACIT, Non Corporate Circle 7(1), Chennai

The appeal stands allowed

ITA 963/CHNY/2023[2016-17]Status: DisposedITAT Chennai29 Jan 2024AY 2016-17

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.963/Chny/2023 (िनधा*रण वष* / Assessment Year: 2016-17) Shri M.R. Sivakumar Acit Old No.480 New No.3/480 Non-Corporate Circle-7(1) बनाम 2Nd Avenue, 4Th Sector, Chennai-34. / Vs. West Anna Nagar Extension, Chennai-600 101. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Azhps-2774-D (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri M. Karunakaran (Advocate)-Ld. Ar " थ"कीओरसे/Respondent By : Shri D. Hema Bhupal (Jcit)- Ld. Dr सुनवाईकीतारीख/Date Of Final Hearing : 29-01-2024 घोषणाकीतारीख /Date Of Pronouncement : 29-01-2024 आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: Shri M. Karunakaran (Advocate)-Ld. ARFor Respondent: Shri D. Hema Bhupal (JCIT)- Ld. DR
Section 143(3)Section 271(1)(c)Section 274

assessee that there was dispute on land which went up-to Hon’ble Supreme Court for which the assessee had to incur huge legal expenses. The legal payments were made at various levels to lawyers and consultants and it was paid mostly by way of cash. The Ld. AO, after ... there is no finding to that effect. Further, disallowance is only an estimated disallowance. The Ld.AO has accepted that the assessee had incurred legal expenses but denied deduction of 40% of expenses on estimated basis. It could not be said that there was any concealment of income. Therefore

M/S A.C.Chokshi Share Brokers Pvt Limited, Mumbai vs. Assistant Commissioner of Income Tax Central Circle-1(3), Mumbai

In the result, the appeal filed by the assessee is allowed for statistical purpose

ITA 2990/MUM/2022[2015-16]Status: DisposedITAT Mumbai23 Jan 2024AY 2015-16

Bench: Shri Br Baskaran & Shri Pavan Kumar Gadalem/S. Ac Chokshi Acit, Cc-1(3) Share Brokers Pvt Ltd, 905, 9Th Floor, बनाम/ 2Nd Floor, Itts House, Pratishtha Bhavan, Vs. 28K Dubash Marg, Old Cgo Annex, Kala Ghoda, Fort, M.K.Road, Mumbai-400023. Mumbai-400020. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabca3464E (""थ" / Respondent) (अपीलाथ" /Appellant)

For Appellant: Shri.Dharan Gandhi.ARFor Respondent: Shri.Manoj Kumar Sinha.DR
Section 271(1)(C)Section 37(1)

client in respect of trading loss incurred in his account and the assessee company has incurred an amount of Rs. 38,30,000/- towards legal expenses. Whereas the AO found that the claim is not incurred for the purpose of business purpose and to verify the disputed issue has called ... lakhs to its one of the client in respect of trading loss incurred in his account. Also the company has incurred the legal expense of Rs. 38,30,000 in connection thereto. The same is considered as exceptional item in the statement of profit and loss”. 9. Prima-facie

Dy. Commissioner of Income Tax, Circle-6(1), Hyderabad vs. Iqbal Ali Khan, Hyderabad

In the result, appeal filed by the Revenue is allowed

ITA 505/HYD/2020[2013-14]Status: DisposedITAT Hyderabad12 Jan 2024AY 2013-14

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarआ.अपी.सं /Ita No.505 /Hyd/2020 (िनधा"रण वष" / Assessment Year: 2013-14) Asstt. Cit Vs. Shri Iqbal Ali Khan, Circle 6(1) Hyderabad Hyderabad Pan:Aalpi8951P (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri Mohd. Afzal राज" व "ारा/Revenue By:: Smt. Sheetal Sarin, Dr सुनवाई की तारीख/Date Of Hearing: 09/01/2024 घोषणा की तारीख/Pronouncement: 12/01/2024

For Appellant: Shri Mohd. AfzalFor Respondent: : Smt. Sheetal Sarin, DR
Section 142(1)Section 143(2)Section 54F

year 1981. The assessee said to have acquired the land in the year 1981 and due to disputes incurred the legal expenses incurred from time to time and finally the land was received as family settlement by the Hon'ble High Court of Andhra Pradesh in the year

Business Combine Ltd, Mumbai vs. DCIT Circle 6 (1)(2), Mumbai

In the result, appeal of the assessee is allowed

ITA 3186/MUM/2023[2010-11]Status: DisposedITAT Mumbai29 Dec 2023AY 2010-11
Section 143(3)Section 37

fuel. Similarly, with regard to legal and professional fees, it is seen that Rs.38.02 lakhs pertains to professional fees paid to various professionals and legal expenses and legal charges and some retainership fees. The details of these professional fees and legal expenses have been filed before ... also before us which were purely legal expenses, fees given to the professionals during the course of business and nothing can be said to be 6 M/s. Business Combine Ltd. unverifiable and accordingly, on this head also no disallowance can be made. Similarly, with regard to freight, transport and delivery

ACIT-1(1)(1), Mumbai vs. M/S. Chemicals and Ferro Alloys Pvt Ltd, Mumbai

In the result, the appeal of the revenue stand dismissed

ITA 1996/MUM/2023[2013-14]Status: DisposedITAT Mumbai11 Dec 2023AY 2013-14

Bench: Shri Aby T Varkey & Shri Amarjit Singhacit-1(1)(1) Vs. M/S Chemical & Ferro 579, Aaykar Bhavan, Alloys Private Limited M.K. Road, 3Rd Floor, Liberty Mumbai – 400020 Building, Sir Vithaldas Thackersey Marg, New Marine Lines, Mumbai – 400020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacc4508N Appellant .. Respondent

For Appellant: Sanjay ParikhFor Respondent: H.M. Bhatt
Section 143Section 143(2)

supra) the Hon'ble Allahabad High Court has held that expenditure incurred for retaining the status of the company, namely miscellaneous expenses, salary, legal expenses, travel expenses, would be expenditure wholly and exclusively for the purpose of making and earning income. There is no doubt that the assessee

Standard Chartered Bank, Mumbai vs. DDIT (It) 2(1), Mumbai

In the result, the appeal filed by the assessee is partly allowed and appeal filed by the Revenue is dismissed

ITA 4867/MUM/2017[2001-02]Status: DisposedITAT Mumbai13 Nov 2023AY 2001-02

Bench: Shri Vikas Awasthy & Shri Gagan Goyalstandard Chartered Bank Taxation Department, 23-25, M. G. Road, 3Rd Floor, Fort, Mumbai-400 001 Pan: Aabcs4681D ..... Appellant Vs. Ddit (Intl. Tax)-2(1) Scindia House, Ballard Estate, N. M. Marg, Mumbai-400 038 ..... Respondent

For Appellant: Shri Madhur Agarwal, Ld. ARFor Respondent: Shri Anil Sant, Ld. DR
Section 14ASection 250Section 40

thought that it would be advantageous if both the companies are amalgamated. Accordingly, a scheme of amalgamation was evolved. It was submitted that the legal expenses incurred in connection with the said amalgamation are in the nature of revenue expenditure. The ITO did not agree ... other company by the assessee, which acquisition was in the nature of acquisition of a capital Page 15 of 90 asset, the legal expenses incurred in that behalf partake the nature of capital expenditure. The Tribunal was of the opinion that "as both the companies were carrying on complimentary business

Icici Bank Ltd, Mumbai vs. Addl CIT RG (1), Mumbai

Appeals are partly allowed

ITA 4248/MUM/2014[2007-08]Status: DisposedITAT Mumbai09 Nov 2023AY 2007-08

Bench: Shri Amit Shukla () & Ms. Padmavathy S. ()

Section 10(15)Section 115JSection 234BSection 41(4)Section 88ESection 90

hence no mark up was charged on the same. Sl.No. Nature of expense Amount - Rs. A SAP maintenance expenses 17,85,423 B Legal expenses 55,14,827 C Internal audit expenses 73,44,177 D IT expenses 5,35,417 Total 1,51,79,844 50. The assessee further