| Wednesday, September 23, 2009 |
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1. Nitco Marble (Delhi High Court) [Related to section 37& 43B] Merely because the assessee did not have exports to these countries in that year travelled by the director, the Tribunal opined that it could not be said that expenditure on foreign tours is not in connection with the business of the assessee. There can be a foreign travel with expectation to generate business from those countries”.
2. GIAN KAUR (Delhi High Court) [Related to section 48] MCD land rate on the basis of actual auction would be preferable to the predetermined rates of the DDA, inasmuch as the rates at which actual auction took place at the hands of MCD would be realistic whereas DDA rates are notional.
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Thanks for your valuable time
"Voice of CA" CA. Kapil Goel, Moderator-Direct Taxes, Mob:9910272806, cakapilgoel@gmail.com CA. Sidharth Jain, Co-Moderator, Mob: 9810418700, sidhjasso@yahoo.com CA. Mukesh K Bansal, Co-Moderator-FEMA, mkak@rediffmail.com
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