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Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

Addition u/s 40A(2)(a) - trade discount allowed by the assessee ...

Case Laws     Income Tax

May 3, 2016

Addition u/s 40A(2)(a) - trade discount allowed by the assessee to its sister concerns - discount allowed to sister concerns were not unreasonable and cannot be excessive having regard to the market rate - AT

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  2. Deemed dividend addition u/s.2(22)(e) - advances given to sister concern without interest - Transactions were purely out of trading transactions between the two concerns...

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  7. Disallowance u/s.40A(2)(b) being paid by the assessee to the Excise Department on behalf of its sister concern - The assessee route collection and payment of excise duty...

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  9. Addition u/s 40A (2) (b) - exponential increase in the Directors’ remuneration - CBDT Circular clearly states that no disallowance is to be made u/s 40A (2) in respect...

  10. Estimation of Profit/Section 40A(2)(b) - JV entered - sub-contracting - AO had formed a view that the assessee JV had suppressed its profit by making excessive payment...

  11. Addition u/s 40A(2) - disallowance of interest claim of 9% - ITAT has rightly concluded that the provisions like Section 40A are meant to check evasion of tax through...

  12. Interest free loan was advanced to the sister concerned - in the absence of any reference to any business transaction between the assessee and the sister concerns, the...

  13. Revision u/s 263 - Expenditure incurred on payments to sister concerns u/s 40A(2)(b) - Inaction on the part of the AO has caused prejudice to the Revenue as contemplated...

  14. Initiation of CIRP - transaction of Financial Debt or not - Loan taken by the Corporate debtor from the sister concern was assigned by the said sister concern to the...

  15. Addition u/s 40A(2)(b) - payment to the persons specified - the AO estimated the profit of the assessee and determined the income, nowhere he doubted the expenses...

 

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