Amount written off by the assessee cannot be considered as ...

Income Tax

December 15, 2014

Amount written off by the assessee cannot be considered as expenditure incurred wholly and exclusively for the purpose of earning of income, which is included in the computation of income under the head "Income from other sources" - AT

View Source

← Previous Next →

Amount written off by the assessee cannot be considered as ...

Income Tax

December 15, 2014

You may also like:

The expenditure made for construction/acquisition of new facility subsequently abandoned at the work-inprogress stage was allowable as incurred wholly or exclusively for...

Nature of expenditure - Revenue expenditure or capital expenditure - The ITAT held that, it is now well settled that revenue expenditure is allowable in entirety in the...

Writing off towards software capital work-in-progress - It is not a case where the assessee purchased certain plant and machinery or incurred certain capital costs which...

Addition of amounts written off - payment of service tax to its distributors - when the assessee company has paid amount to its distributors who had actually paid the...

Expenses written off - abandoned project - similar project was abandoned during the earlier year - those part of the expenditure incurred during the year which are...

Deduction u/s 37(1) - the SPV was wound up and since no consideration was received by the assessee on account of winding up of the SPV, the entire investment in JSHL was...

Loss on write off as receivable - What all therefore the assessee has to demonstrate is an honesty of its intent in effecting the write off - nothing more and nothing less - AT

Claim on corporate social responsibility – Expenses incurred wholly and exclusively for the purpose of business - upliftment of the Adivasis in the locality - claim...

Disallowance towards ‘Project Development cost written off’ by the assessee - year of deductibility - As the assessee found the project to be lost and decided to write...

Bad debts - Writing off of Loan to farmers - The treatment of the write-offs of such loans would then have to be viewed probably as bad debts, though this may not be...

Quick Updates: