Home Highlights May 2013 Year 2013 This

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1. Addition on account of unaccounted cash payments u/s 69C - Addition on the basis of the statements given by four employees in the course of search u/s 132(4) - not only...

2. Disallowance of Expenditure u/s 57 (iii) - Nexus of expenditure with Interest Income - Employee remuneration, salary, legal expenses, board meeting expenses, Director...

3. Addition u/s 69C - certain items jotted in pencil on two sheets of paper - unexplained expenditure - the assessee had denied to have incurred this expenditure and the...

4. Expenditure u/s 37 of the Act - Remuneration and training of working director – assessee could not substantiate the contentions - additions confirmed - HC

5. Disallowance on account of driver’s salary and fuel and lubricant expense - Addition on the ground that there was no car owned by the assessee and no satisfactory...

6. Addition u/s 40A(3) - cash payments were made to truck drivers after banking hours - even this amount should not have been disallowed u/s 40A(3) read with Rule 6DD of...

7. Addition made u/s.40A(3) - cash payment to transporters - If the assessee had paid money to the lorry drivers, as argued by it, vouchers would have been given by the...

8. Delay in deposit made to the employees Provident fund and ESIC - such sums were not credited by the respective assessee to the employees 'accounts in the relevant fund...

9. Cash payment to lorry driver - assessee's only claim before the authorities was that the driver acted in dual capacity, for which there is no evidence - disallowance u/s...

10. Addition being unverified sundry debtors - Additions have been confirmed on account of bogus purchases - Any addition out of the sales made out of the aforesaid...

11. Revision u/s 263 - Addition u/s 68 - second revisional jurisdiction of Pr. CIT - Whether the AO (called second AO) has not conducted enquiry while framing re-assessment...

12. TP Adjustment - Excessive managerial remuneration to a related party - The High Court noted that the remuneration paid to the director had not been disputed by the...

13. The ld. CIT(A) confirmed the addition of ₹ 1 lac on estimated basis when commission payments are specified amount, the CIT(A) should have confirmed the whole...

14. Tax paid by the employer on the salary/remuneration of the employee - Section 17(2) - such payment was to be excluded from the income of the employees - AT

15. TDS u/s 192 - LTC to an employee - exemption u/s 10(5) - foreign travel - A foreign travel also frustrates the basic purpose of LTC. The basic objective of the LTC...