Addition u/s 40A(2)(b) - purchase of the lands from the ...

Income Tax

September 2, 2021

Addition u/s 40A(2)(b) - purchase of the lands from the Directors at excessive rate - These decisions are all commercial decisions, which have to be taken by the assessee, and it is not for the Assessing Officer to sit in the arm-chair of the assessee and suggest the ways and means to run their business as long as there is no unlawful activity, which has been alleged to have been done by the assessee. - the decision to purchase the lands from the Directors at excessive rate was a prudent commercial decision taken by the assessee company. - HC

View Source

← Previous Next →

Addition u/s 40A(2)(b) - purchase of the lands from the ...

Income Tax

September 2, 2021

You may also like:

Disallowance u/s 40A (2)(b) - payment of higher salary to the Directors - When a Company pays higher salary to the Directors of the Managers or other Officers or...

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...

Addition on account of directors’ remuneration being treated as excessive u/s. 40A(2) - once it is established that remuneration has been paid to directors then Revenue...

Disallowance of directors remuneration u/s 40A(2)(a) - A.O by misconstruing the scope and gamut of Sec. 40A(2)(a) had disallowed the entire amount of the directors...

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...

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...

Addition u/s 56(2)(vii)(b)(ii) - difference between the stamp duty value and purchase value of agricultural land (immovable property) - the agricultural land purchased...

Addition u/s 40A(2) - Allegation of Excessive price paid to related parties - The provisions of section 40A(2) of the Act applies for making disallowance of expenses for...

Disallowance u/s 40A(2) - payment of remuneration to whole time directors - Not disputed that the concerned directors are assessed to tax at the maximum rate of 30%. -...

Disallowance made u/s 40A(2)(a) - higher salary paid to Directors - Related party transactions - the concerned directors are assessed to tax at the maximum rate of 30% -...

Addition u/s 40A(2) - assessee has paid interest to certain related parties and treated interest rate @ 15% reasonable and disallowed excess rate paid to related parties...

Addition u/s 40A(2) - remuneration paid to the Managing Director nearly 90% of the returned income of the assessee company - CIT (Appeals) as well as the Tribunal have...

Addition u/s 40A(2) - excessive remuneration - whether the Revenue can tax the same income in the hands of the company on which the Directors had already paid the tax at...

Addition u/s 56(2)(vii)(b) - valuation of land purchased by assessee - deemed gift under section 56(2)(vii)(b)(ii) - Assessee submitted that, actual deed could not be...

Addition u/s 40A - excessive or unreasonable expenditure - Deduction from the income of payments of commission made to the Directors/Managing Director of the respondent...

Quick Updates: