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Income Tax - Highlights / Catch Notes

Home Highlights January 2014 Year 2014 This

Disallowance on account of reimbursement of warranty claims - ...

Income Tax

January 15, 2014

Disallowance on account of reimbursement of warranty claims - even if any liability is taken over by the assessee as a part of business purchase agreement, discharge of such liability cannot be claimed as a revenue expenditure - AT

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  1. Disallowance for warranty expenses - assessee is entitled to change the method of accounting with respect to claim of warranty expenses from ‘actual basis’ to ‘provision...

  2. Disallowance being provision made for warranty expenses - The assessee’s warranty provision equally lack in the proper accounting / calculating factors and, therefore,...

  3. Additional provision for warranty Claim - Tribunal allowed normal warranty, extended warranty, however denied additional provision for warranty on domestic sales claimed...

  4. Disallowance of Provision for Warranty - Absence of scientific method adopted by the assessee - The assessee has submitted that the period of warranty is maximum for one...

  5. Depreciation - Disallowance of amount released from reserves account under normal computation of income - The net result of the accounting entries passed in the books of...

  6. Misuse of the power - Jurisdiction of GST officer for attaching and withdrawing amount from bank account of the assessee - The concerned officer who instructed the bank...

  7. Addition on account of disallowance of claim of VAT reimbursement - VAT subsidy received by the assessee from the Government of Bihar is a capital receipt and...

  8. TDS u/s 195 - disallowance u/s. 40(a)(i) - chargeability of amount to tax in India - rendering of technical services under India-Singapore tax treaty - whether being...

  9. TDS - it is not possible to accept the contention that reimbursement of salary coupled with other reimbursement of international and domestic travel is reimbursements of...

  10. Disallowance of provision for maintenance and free service/warranty in computation of book profit u/s 115JB - such liabilities cannot be regarded as contingent...

  11. Disallowance of provision for commission expenses - In the instant case, the assessee is aware that it would be liable to pay commission amount to the agent when the...

  12. Disallowance of provision of warranty - The provision made by the assessee was ascertained based on the actual expenses incurred on settlement of warranty schemes in...

  13. Computation of book profits for the purpose of computing the tax liability u/s. 115JB - two sets of books of account - there is no material on record indicating the...

  14. Addition u/s 43B - non deposit of GST before the due date of filing of return of income under section 139(1) - the contention of the assessee that it has not claimed any...

  15. TP adjustment on account of reimbursement of seafarer expenses - Revenue has only doubted the genuineness of the alleged reimbursement of expenses made by the assessee...

 

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