9911796707
| TMI General Search |
|
Advanced Search Options
Showing 1 to 20 of 1884 Records Search Text: tds applicable travelling expenses |
| Search Results |
| Acts / Rules (6) Articles (19) Case-Laws (1758) Circulars (62) Forum (8) Short Notes (3) Forms (1) Highlights (1) Manuals (3) News (20) Notifications (3) |
|
2013 (8) TMI 57 - ITAT DELHI Assessment pursuant to DRP order - 43 issues. Issues decided in favor of assessee:- Addition of freight inward/ import clearing expenses to cost of closing inventory - Addition on account of cost of rejection of semi finished goods and obsolete items - Addition of provision for increase in price of material to the value of closing inventory - Disallowance of cost of scrap material - Adjustment on account of provision for increase in price of material as prior period expenditure or preponement of... ... ...
FICCI-PRE-BUDGET-MEMORANDUM-2015-16 India's economic outlook improved in 2014-15, with GDP growth projected at 5.5-5.6%, up from below 5% in previous years. Inflation concerns eased, and the current account deficit was reduced. Export growth was steady, and foreign investment inflows increased significantly. The government introduced progressive policies to enhance the business environment, including infrastructure development, manufacturing support, and financial inclusion initiatives. The forthcoming budget aimed to boost demand and investments, with suggestions to extend investment allowances, support startups, and implement GST. The fiscal deficit was targeted to decrease, emphasizing revenue growth and efficient expenditure. The agriculture, chemicals, aviation, education, and healthcare sectors received specific recommendations for tax adjustments and policy reforms to support growth and competitiveness.
Indo American Chamber of Commerce - Detailed Pre-Budget Memorandum on Direct Taxes for 2015-16 The Indo American Chamber of Commerce has submitted a pre-budget memorandum for the 2015-16 budget, highlighting concerns about high corporate tax rates, surcharges, and dividend distribution taxes, which they argue are detrimental to business operations and investor sentiment in India. They recommend reducing the corporate tax rate to 25% and removing surcharges and education cess. For individual taxpayers, they suggest raising the income level for the peak tax rate and revising tax slabs. The memorandum also addresses issues related to Employee Stock Option Plans, superannuation funds, standard deductions, and various allowances, urging reforms to align with international standards and reduce the tax burden on businesses and individuals.
2017 (1) TMI 266 - ITAT DELHI Enhancing the value of the closing inventory of raw material/ components - Held that:- As decided in assessee own case A Y 2007-08 if valuation of closing stock is changed then the value of opening stock should also be changed on the same basis or method. The closing stock of a particular year is the opening stock of the subsequent year. Not the case of the revenue that the method of valuation of closing stock is materially affecting the accounts and profits disclosed by the assessee. This adjus... ... ...
PRE-BUDGET MEMORANDUM 2013-2014 - FICCI The pre-budget memorandum for 2013-2014 by FICCI outlines key economic and fiscal recommendations aimed at addressing India's economic challenges. It emphasizes the need for stable tax policies to boost investor confidence and suggests implementing committee reports on tax reforms. FICCI opposes the introduction of inheritance tax, citing potential negative impacts on capital generation. The memorandum stresses the importance of dispute resolution mechanisms, efficient tax refund processes, and the removal of double taxation on overseas dividends. It advocates for maintaining current import duties to protect domestic industries until comprehensive GST implementation and highlights the need for infrastructure development, including the introduction of GST, to stimulate economic growth.
FICCI PRE-BUDGET MEMORANDUM 2018-2019 A pre-budget memorandum by FICCI for 2018-2019 highlights various economic and sectoral issues, emphasizing the need for tax reforms to stimulate growth. Key recommendations include reducing corporate tax rates to 25% for all companies, addressing the inverted duty structure in manufacturing, and expanding GST to include petroleum products. The memorandum advocates for rationalizing GST compliance, enhancing tax incentives for sectors like healthcare and housing, and improving the ease of doing business. It also calls for clarity on tax provisions affecting sectors such as IT, telecommunications, and financial services, and suggests measures to support MSMEs and infrastructure development.
2017 (7) TMI 867 - ITAT DELHI Best judgment assessment - Unexplained Money - addition u/s 68 - Held that:- It is admitted by the ld AR that order passed u/s 144 of the Act are appealable before the ld CIT(A), however, he stated that for filing an appeal the AO ought to have determined the total assessed income and demand of tax and further issued notice of demand u/s 156 of the Act. He further stated that no notice of demand was issued along with the draft assessment order dated 31.03.2013. According to us the ld AR did not ... ... ...
2014 (1) TMI 1597 - ITAT DELHI Interest on non-business advances Held that:- there being no nexus between the borrowed funds and the alleged advances, there is no justification in disallowing the interest presuming that the advances were instead out of borrowed funds - the receivables are more than payables, therefore, even no such disallowance can be contemplated from any angle. Disallowance u/s 40A(2)(b) - Related parties transactions comparison of rentals between bare premises let out by the assessee with full facilities l... ... ...
2020 (11) TMI 210 - ITAT BANGALORE TDS u/s 195 - software expenses - whether this amount debited by the assessee company to its P L Account as Software expenses is purchase of software by the assessee company or it is mere reimbursement by the assessee company to its AE being the cost incurred by the AE after retaining 15% of cost incurred by the AE - HELD THAT:- Price realised may differ on day to day basis and customer to customer basis in view of difference in timing or payment terms and hence, we have to accept that cost of t... ... ...
2019 (4) TMI 1509 - ITAT DELHI Transfer Pricing Adjustment u/s 92CA - payment of model fee - royalty - export commission - operating profit/sales ratio of the assessee @ 12.91% is higher than the average of the operating profit ratio of comparable companies, i.e., (-) 21.97% - TNMM - HELD THAT:- The facts of the present assessment year are identical with that of the [ 2018 (7) TMI 208 - ITAT DELHI] . No distinguishing facts were placed on record by the Ld. DR. The payment of model fee is a consideration in terms of agreement ... ... ...
2015 (9) TMI 1115 - ITAT AHMEDABAD Disallowance u/s.14A as per Rule 8D - Held that:- With regard to disallowance of interest expenditure made by Assessing Officer u/s.14A specially to invest in Indian subsidiaries. We find that interest free own funds of the assessee is many times more than this investment because interest free funds available with assessee as on March 31, 2006. There is nothing on record to suggest that any direct nexus between interest bearing borrowed funds and investment in Indian subsidiaries. In such facts ... ... ...
2013 (9) TMI 233 - ITAT PANAJI Disallowance u/s 14A of I.T.Act read with Rule 8D of IT Rules - Assessee invested in debts mutual funds. Assessee computed disallowance u/s 14A(2) at Rs. 25,78,156/- and disallowed same, while computing its total income - Held that:- AO merely observed that the administrative expenses disallowed by the assessee is very less but how they are less and how the other expenses incurred by the assessee related to dividend income has not been brought on record. AO has not pointed out expenses excluded ... ... ...
2012 (6) TMI 535 - ITAT AHMEDABAD Whether Commissioner of Income-tax (Appeals) has erred in confirming the action of Assessing Officer in making disallowance of expenditure of Rs. 71,00,339/- u/s. 40(a)(ia) of the I.T. Act – Held that:- peculiarity of this case is that the sub-contract which was assigned to this assessee was not further sub-contracted to the lorry owners. In a sub-contract, a prudent contractor generally include the clauses of liability which were undertaken by him while accepting the execution of the work from ... ... ...
2005 (1) TMI 603 - ITAT MUMBAI T.K. SHARMA AND A.K. GARODIA, JJ.
B.K. Khare for the Appellant.
Sandeep Garg for the Respondent.
ORDER
1. All these thirty appeals are assessee's appeals directed against a common order of learned CIT(A)-XXV, Mumbai dated 21-2-2000 with regard to thirty separate orders under section 195 of DCIT, (TDS), Circle 1(1), Mumbai. Since, the issue involved in all these appeals is common, all these appeals is being disposed of by this common order for the sake of convenience.
2. Grounds of a... ... ...
2020 (10) TMI 605 - ITAT BANGALORE Setting off of LOSS OF STPI/SEZ UNITS against business income from non-STPI/non-SEZ units - STPI refers to Software Technology Park and SEZ refers to Special Economic Zone - HELD THAT:- As decided in own case [ 2015 (10) TMI 826 - KARNATAKA HIGH COURT] Loss arising in eligible SEZ/STPI undertakings are not required to be adjusted against the profits arising from other SEZ/STPI undertakings and the said loss can be adjusted against profits arising from non-SEZ/non-STPI units. Accordingly, this is... ... ...
2014 (10) TMI 177 - ITAT AHMEDABAD Deduction u/s 80JJA - Cutting and polishing of diamond does not amount to manufacture or not – Held that:- What is required to be examined is the process undertaken for conversion of raw / rough diamonds into superior or polished diamond - the assessee has duly placed on record the entire process and the stages through which the rough diamond undergoes for becoming the polished diamond, which is a separate and distinct product and has a different usage - Such a process has neither been rebutted ... ... ...
Draft common Income-tax Return-request for inputs from stakeholders and the general public. The Government of India proposes a draft common Income-tax Return (ITR) to simplify the filing process by merging existing ITR forms, except ITR-7, while retaining ITR-1 and ITR-4 for convenience. This initiative aims to ease filing and reduce the time required by customizing the ITR based on taxpayer responses to specific questions, showing only relevant schedules. The draft includes a smart design for user-friendliness and better data reconciliation with the Income-tax Department. Stakeholders and the public are invited to provide feedback by December 15, 2022. The finalized form will be available online post-notification.
2018 (7) TMI 1883 - ITAT MUMBAI TDS u/s 271(1)(c) - wrong claim of deduction u/s 80IB which had resulted in under assessment of its income - wrong claim of computer software expenses which though was in the nature of capital expenditure, but was claimed as a revenue expenditure by the assessee - wrong claim of expenditure on account of gift articles which were incurred for non-business purposes - reduction of penalty imposed pursuant to an application filed by the assessee u/s 154 - Held that:- We find from a perusal of the or... ... ...
2017 (6) TMI 876 - GUJARAT HIGH COURT TDS u/s 195 - Taxability as royalty or FTS - outright purchase - payment made towards supply of design and drawings to a nonresident architect firm - DTAA - P.E. in India - Held that:- Payment has been made by assessee to M/s. Naimisha directly for supply of drawings and design as per clause / Article 4.3 of the agreement dated 5.6.2000 and different amounts were required to be paid / paid with respect to different designs and drawings for different components of the project viz. InfotowerI, Inf... ... ...
2011 (5) TMI 530 - ITAT DELHI Expenditure incurred towards testing fee paid to M/s CSA International Chicago Illionos, USA - non-deduction of TDS under section 40(a)(i) - Held that:- AO has not brought anything on record to substantiate his observation of the testing and certification provided to the assessee by CSA having been utilized for the assessee's business activity in India - The assessee has shown that this testing and certification was necessary for the export of its product; that it was utilized for such export; a... ... ...
|
