Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2015 Year 2015 This

Disallowance of retention money retained from sub-brokerage - ...

Case Laws     Income Tax

June 29, 2015

Disallowance of retention money retained from sub-brokerage - Accrual of expenditure - tax authorities are not justified in holding that the liability to the extent of amount retained as contingency fund did not accrue at all. - AT

View Source

 


 

You may also like:

  1. Deemed Income / accrual of income - income on account of retention money - the right to receive the retention money is accrued only after the obligations under the...

  2. Accrual of income towards retention money - the assessee had no right to claim any part of the retention money till the verification of satisfactory execution of the...

  3. Taxability of retention money - taxable in the year of receipt or on accrual basis - the retention money has to be brought to tax in the year in which the same has...

  4. Disallowance u/s 14A - disallowance u/r 8D was made of ₹ 2.19 Crores against total expenditure of ₹ 24.19 Lakhs - voluntarily disallowance by assessee of...

  5. Amount received after deducting retention money and revenue was recognized accordingly - TDS was deducted including retention money - Addition on the basis of TDS...

  6. Expenditure on brokerage expenditure paid for obtaining investments in mutual funds - investment made in the funds yields income over a period of years, however the said...

  7. Disallowance of brokerage paid on acquisition of investments - whether the expenditure is in the nature of capital expenditure and forms a part of cost of asset - When...

  8. Taxation of retention money not accrued during the year - Accrual of income - as per AO addition has been rightly made during the course of assessment as well as in...

  9. Disallowance to 10% of the sub brokerage expenses - the Tribunal not accepting 20% disallowance and limiting the disallowance to 10% in these facts cannot be said to be...

  10. Payment of retention bonus - allowable busniss expenditure - Had the employees of erstwhile company not been retained by the assessee company its business would have...

  11. Deferred brokerage expenditure - Addition made as assessee has not debited such expenditure in its P & L Act. - the expenditure incurred on brokerage is to be allowed in...

  12. Disallowance u/s 14A - Disallowance made on account of interest expenditure - AO has not made any disallowance on account of interest expenditure u/s 14A of the I.T. Act...

  13. Credit of TDS if deductor not deposited TDS - Act does not seem to cast a burden on the deductee/payee with regard to the deposit of money, which is retained as tax, by...

  14. Accrual of income - the right to receive retention money accrues only after the obligations under the contract are fulfilled. Therefore, it will not amount to income in...

  15. Allowability of capital loss as well as the right of deferred tax assets - Disallowance of capital expenditure debited to the profit and loss account - whether CIT-A...

 

Quick Updates:Latest Updates