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 April 2015 Year 2015 This

Disallowance to deduct the cost and expenditure incurred in ...

Income Tax

April 25, 2015

Disallowance to deduct the cost and expenditure incurred in earning income under the head "income from other sources" - What can be taxed is only the net income which the appellant earns after deducting cost and expenditure incurred and administrative expenses incurred by the assessee - HC

View Source

 


 

You may also like:

  1. Prior period expenditure cannot be disallowed simply by observing that it is not ascertainable whether this expenditure was incurred for earning a particular receipts...

  2. Addition u/s 14A read with rule 8D - categorical finding and satisfaction of the A.O. that expenditure has been incurred to earn the exempt income - Disallowance upheld

  3. TDS u/s 194C - Deduction u/s 40(a)(ia) - the expenditure incurred under the head ‘freight charges’ are not liable for disallowance u/s 40(a)(ia)

  4. Disallowance u/s 14A read with Rule 8D - In any case, as per section 14A(3) whether or not the assessee has incurred any expenditure for earning exempt income, a part of...

  5. The mere fact that the respondent did not earn any income on its investment made, the interest expenditure would not cease to be an expenditure incurred for business.

  6. Deduction of expenditure incurred in earning income u/s 56 - assessee is a Thrift and Credit Society - the source is inextricable to the nature of the expenditure -...

  7. Once it is found that no expenditure was incurred in earning this income, there would be no further expenditure in relation thereto that falls within the ambit of section 14A - HC

  8. Adhoc disallowance of 20% of total expenditure incurred on repairs and maintenance and treating the same as capital expenditure mechanically and perfunctorily - No...

  9. Disallowances under section 30(1) - expenditure incurred on repair and renovation of renting premises allowed - HC

  10. Interest expenses claim against the interest income received - It is the nature of the business and all the expenditure incurred in earning the income is allowable...

 

Quick Updates:Latest Updates