Home Highlights November 2013 Year 2013 This

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1. Provision made for leave salary allowed as deduction - HC

2. Provision for Leave Encashment - Validity of order the Tribunal holding that no expenditure shall be allowed u/s.43B(f) on account of any leave salary unless the...

3. Provision for sick leave liability - based on the basis of notional figures - such notional liability cannot be allowed as deduction - section 43B(f) is not applicable.

4. Disallowance of partners’ salary from undisclosed income - deduction allowed - AT

5. If the assessee has not made payment of leave encashment provision in the present year, deduction on account of that provision cannot be allowed as per provisions of...

6. Disallowance of “Provision for leave travelling allowance” - the liability to pay would arise in the hands of the assessee only when an employee makes a claim. - order...

7. Disallowance of service tax u/s 43B - outstanding statutory liability - The assessee has not routed the outstanding service tax through its profit and loss account but...

8. TDS u/s 192 - commission paid to partner - considering the provisions of Explanation 2 to Section 15 of the Act which includes salary, bonus, commission or remuneration...

9. Deduction u/s 80IA - Treatment to carbon credit receipt - Section 115BBG of the Act was introduced by Finance Act, 2017 with effect from 01.04.2018, prior to which,...

10. Disallowance of Society Charges paid in respect of property given on leave and license - deduction to be allowed subject to section 24 - no other deduction is allowed - AT

11. Provision made towards gratuity - the meaning as given in section 43B cannot be said to be the same as in section 40A(7)(b)(i) - it is not necessary that actual payment...

12. Disallowance of the provisions made for leave encashment - Post 01.04.2001, deduction of any sum on account of payment towards employees leave encashment would be...

13. Payment made for surrender of tenancy rights - deduction allowed u/s 37(1) - AT

14. TDS from salary payment to employees - considering the house property loss resulting from the deduction on account of interest on housing loan while making deduction of...

15. Deduction of interest and salary paid to partners u/s 40b (IV) and 40 b(V) - order u/s 144 - The provisions of section 184(5) of the Act is very clear and according to...