Home Highlights July 2014 Year 2014 This

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1. Nature of expenditure - Disallowance of expenditure under the "head repairs and maintenance"- AO rejected the assessee's contention and held that the assessee is...

2. Penalty u/s 271D - loan amount obtained in cash from Directors in emergency - violation of provision of section 269SS - the assessee that on the different dates assessee...

3. Additions towards unrecorded expenditure - A.O. has disallowed the said expenditure in Note 26 foreign currency transactions, pertaining to purchase of shooting...

4. Disallowance of business promotion expenditure to the extent of 50% - The employees and Directors of the assessee company would incur the expenditure in their credit...

5. Allowability of depreciation @10% as against 100% claimed by the assessee - nature of expenditure on Civil work, flooring work, and finishing work, etc incurred as...

6. Provision for remuneration of whole time directors – Enhanced directors remuneration – claim of assessee was allowable - AT

7. Penalty u/s 271-D and 271-E - accepting loan in cash from the director of the company - The tribunal held that, the assessee`s case under consideration the transactions...

8. Addition for no TDS on Deemed dividend u/s 2(22)(e) - whether the amounts given the directors are for the business purpose? - the ledger account of the said directors...

9. Disallowance of construction expenditure incurred after the issue of occupation certificate (OC) - It is seen that the nature of work which was incurred by the assessee...

10. Disallowance of commission paid to Managing Director and Working Director - it cannot be doubted that the payment of dividend was made in the guise of commission to the directors.

11. Classification of services - rate of GST - works contract - original works pertaining to railways - first high speed rail line i.e. bullet train in times to come and for...

12. TP Adjustment - PLI computation - if rental expenditure is considered as an operating expenditure, then the reimbursement should be set off against the rental...

13. Allowable revenue expenditure u/s 37(1) - Writing off of advance given to the Director - waiver of excess remuneration paid to the Director - The provisions of Section...

14. The Managing Director of the company is personally responsible for meeting the expenditure of his son’s education. The expenditure incurred by the assessee for providing...

15. Exemption u/s 80-IC - Claim denied as no work was carried at the Baddi Unit - There is no concrete material on record which would suggest that the assessee’s claim was...