Home Highlights February 2012 Year 2012 This

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1. Addition towards office rent and office maintenance charges - apportionment of expenses to the sister concerns and group companies - When all the assessee's sister...

2. Disallowing of Peak load violation charges paid to PSEB - nature of expenditure - assessee failed to prove that the claim was not penal in nature - expenditure was...

3. Demand of arrears of amount payable towards Cost Recovery Charges - Container Freight Licence - implementation of the VI Pay Commission as a result of which the salaries...

4. Deduction u/s 80IB - sister concern - Deduction cannot be disallowed only on the ground that the product by the assessee has been used as a raw material by the sister concern. - AT

5. Reimbursement of salary expenses of employees to the sister concern, who were deputed by the sister concern to the assessee does not require deduction of tax at source.

6. Interest expenses u/s 36(1)(iii) - Addition of interest component considering that there is no commercial expediency in lending to sister concerns - AR explained the...

7. Capital gain computation - allowability of deduction u/s 48 towards cost of improvement with respect to amount paid by the assessee towards his share towards conversion...

8. Refund of excess paid duty - The contention of the revenue that since the duty was based on sale value of their sister concern is absolutely incorrect for the reason...

9. Charges paid to clearing and forwarding agents disallowed u/s 40(a)(ia) – TDS not deducted u/s 194C - mere reimbursement of charges would not require deduction of taxes...

10. TDS u/s 194C or 194I - short deduction of TDS - CAM charges Maintenance Charges along with Rent - the CAM charges paid by the assessee did not form part of the actual...

11. Commitment charges/guarantee commission - if the property of the sister concern of the assessee is pledged for the business purpose of the assessee, the sister concern...

12. TDS u/s 194C or 194I - default u/s. 201(1) - short deduction of TDS - Payment of common area maintenance charges (CAM charges) - the payments made towards CAM charges...

13. Assessment of tax - calculation and clubbing of turnover of two units - sister concern or independent entities - The act of the petitioner herein is an attempt to...

14. 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...

15. Disallowance of purchase made from sister concerns - Making disallowance of purchase just because they are from sister concerns/ related parties, Memorandum of...