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 March 2018 Year 2018 This

Personal expenses or business expenses - Unless the assessee ...

Income Tax

March 31, 2018

Personal expenses or business expenses - Unless the assessee submitted the details of the names of the clients or customers with whom the Directors held talks and the number of days spend therein, it is not possible to hold that the entire expenditure claimed by the assessee is wholly and exclusively for the purpose of the business of the assessee - AT

View Source

 


 

You may also like:

  1. Disallowance of membership fee paid to club u/s. 37 - unless assessee demonstrate with relevant evidences that subscription fee paid to club, is for the purpose of...

  2. Nature of expenditure - Allowable business expenditure or personal expenditure - education expenses of the daughter - With the logic advanced by assessee, every...

  3. Denial of claim of loss or to categorize certain expenses as pre-operative expenses - commencement of business during the year - assessee’s business was ‘set up’ or not...

  4. Allowable as business expenses - Small contributions to local people and institution on request of employees and business associates - Section 37 of the Act contemplates...

  5. Disallowance of expenses claimed by the assessee as business expenses - Addition made as assessee had no business - in a given situation where the issue of...

  6. Disallowances of centenary celebration expenses, gift distribution and interest relief to society expenses - The expense incurred on account of relief fund to celebrate...

  7. Addition on account of Business Promotion Expenses - personal element in the business promotion expenses to the extent of 10% of the total expenses cannot be ruled out.

  8. Disallowance of tour and travel expenses - no details were forthcoming from the assessee to substantiate these travel and conveyance expenses and justify that these...

  9. Unexplained income - on money receipts - Peak addition - Once the business profit is determined at 8% of undisclosed receipts, then what is required to be seen is...

  10. Addition on account of unexplained administrative expenses - details include details of salaries paid to employees with the services rendered, details of the travelling...

  11. Business expenditure u/s 37 -invocation of explanation to section 37 is uncalled for as the assessee has not made any expenses for purchase of diamonds rather entire...

  12. Ad-hoc disallowances of the expenses - the expenses claimed for the purpose of the business cannot be disallowed merely on the reasoning that these expenses were...

  13. Addition u/s 68 - unsecured loan - Very fairly, the learned Senior counsel has submitted that, specifically that chance of personal hearing, though was not asked by the...

  14. Disallowance of interest expenses - assessee has made contradictory submissions before the learned CIT (A) and has not furnished the required details of the interest...

  15. Adhoc Addition on account of personal use of car, on account of tour and travelling expenses and on account of telephone expenses - When undisputedly assessee has...

 

Quick Updates:Latest Updates