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 July 2015 Year 2015 This

Disallowance of provision made for a loss on account of a firm ...

Income Tax

July 28, 2015

Disallowance of provision made for a loss on account of a firm purchase contract - the principle of prudence as not being applicable to losses which arise or have their genesis in events subsequent to the end of the relevant year - AT

View Source

 


 

You may also like:

  1. Disallowance on Short term capital loss – assessee cannot incur short term capital loss by purchasing fresh shares at an inflated rate and to sell it out at a nominal rate - AT

  2. Disallowance of short term capital loss - creation of artificial loss - assessee appellants failed to discharge the onus, to prove the genuineness of the transactions of...

  3. Disallowance of speculation loss - Explanation to Section 73 would apply even when entire business consists of purchase and sale of shares. - AT

  4. Disallowance of Commission - Paid to firm in which director has substantial interest - the firm has earned the commission only from the assessee & not from any other...

  5. Disallowance of interest expenditure in the hands of partner - investment as capital in the business of the partnership firm - Absence of earning any interest income on...

  6. Disallowance u/s 14A - Carry forward of business loss – setting off carry forward business losses now depends on the finality of the addition made by Assessing Officer...

  7. Disallowance of interest expenses – partners are entitled to hold the properties belonging to the partnership firm in their individual name, provided it is explicitly...

  8. Disallowance u/s 40A(3) - cash payment made by the assessee for purchase of land - issue of disallowance of expenses does not arise as the amount paid for purchase of...

  9. Disallowance of purchases- Only on account of non-filing of the confirmations from the farmers who sold the paddy to the assessee, adhoc disallowance cannot be made - AT

  10. Speculation loss - purchase and sale of shares - provisions of Explanation to Sec. 73 will not be applied where the principal business of the assessee is that of...

 

Quick Updates:Latest Updates