Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Characterization of receipt - amount received by...     TaxTMI    Validity of assessment order - SCN as also the...     TaxTMI    Seeking reimbursement of GST amount paid by the...     TaxTMI    Condonation of delay in filing an appeal before the...     TaxTMI    Valuation of imported goods - inclusion of royalty...     TaxTMI    Reopening of assessment u/s 147 - The petitioner...     TaxTMI    Validity Of Order passed u/s 73 of the Central...     TaxTMI    Denial of Input Tax Credit (ITC) - Proof of...     TaxTMI    Rectification petition - Validity Of Order passed -...     TaxTMI    Service of SCN - Breach of principles of natural...     TaxTMI    Fixation of Tariff Value of Edible Oils, Brass...     TaxTMI    The Ministry of Finance's recent notification...     TaxTMI    Levy of late fee u/s 234E for the delay in filing...     TaxTMI    Jurisdiction to issue show cause notice and...     TaxTMI    Disparity between the petitioner's GSTR 1 and GSTR...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2015 Year 2015 This

Rebate & discount expenses - the bills were issued on Maximum ...

Income Tax

October 6, 2015

Rebate & discount expenses - the bills were issued on Maximum Retail Price (MRP) and the discount was given through self made vouchers because there was no such software in the accounting system for giving discount. AO made the adhoc disallowance without any basis - Claim allowed - AT

View Source

 

← Previous Next →

 

You may also like:

  1. Valuation - PVC adhesive - MRP - as long as the area to which such retail sale price relates is mentioned on the packages, different retail sale prices for different...

  2. Disallowance of miscellaneous expenses - Merely because some expenditure is claimed on the basis of self made vouchers cannot make the expenditure disallowable. - AT

  3. Valuation - toilet soaps exclusively to the CSD Canteens, under the Ministry of Defence - requirement to affix MRP - A ‘maximum retail price’ is affixed on the impugned...

  4. Evasion of duty of excise - Anticipatory bail - MRP based valuation - valuation dispute of ceramic tiles - difference of Maximum Retail Price and the product sold at...

  5. Process amounting to manufacture or not - activity of “labelling or relabeling, declaration by affixing fresh Maximum Retail Price (MRP) stickers” on each unit pack, by...

  6. Profiteering - Failure to reduce Maximum Retail Prices (MRPs) - Petition against the decision of NATIONAL ANTI-PROFITEERING AUTHORITY - HUL directed to pre-deposit...

  7. Ad-hoc disallowances of the expenses - the expenses claimed for the purpose of the business cannot be disallowed merely on the reasoning that these expenses were...

  8. Refund of wrongly paid Central Excise Duty on Retail Sale Price (Maximum Retail Price-MRP) - unjust enrichment - The authorities concluded that the appellant had passed...

  9. MRP based Valuation - inclusion of ‘optional service charges and ‘rustproof protection charges’ in the ‘maximum retail price’ for assessment - There is no evidence that,...

  10. Unexplained u/s.68 - un-explained cash credit addition - Huge amount withdrawn from bank - self made vouchers for expenses - AO observed that expenses were not supported...

 

Quick Updates:Latest Updates

F: PAYMENT TO CINE OR TV ARTISTS. LIABILITY UNDER RCM
F: Bill To a Overseas Company Supply of goods Locally
A: Guidelines for AOs for initiating proceedings u/s 147 of I.T. Act, 196...
A: Navigating the Business Landscape: The Imperative of Effective Cost Ma...
A: REJECTION OF REPAYMENT PLAN
A: Assessee is entitled to stay on recovery proceedings when Appellate Tr...
F: Credit Note
H: Eligibility for concessional rate of GST - Biomass Fired (Steam) Boile...
H: Allowable expenditure of Education Cess” - The Supreme Court set aside...
H: Waiver of interest u/s 234A, 234B and 234C - marginal delay in filing ...
H: Validity of assessment order - as argued without giving the petitioner...
H: Estimation of income - bogus purchases - quantification of profit - Th...
H: Reopening of assessment - The Appellate Tribunal cited the CBDTs instr...
H: Levying penalty u/s. 271(1)(c) - The appellant, a partner in a partner...
H: Jurisdiction of AO - Validity of notice issued u/s 143(2) - No objecti...
H: Addition u/s 40A(3) - Cash expenditure - assessee has made payments to...
H: Income taxable in India or not - Salary income - Australia assignment ...
H: Taxability of income in India - Addition of receipt emanating from off...
H: Eligibility of Deduction u/s 80P - bank interest earned from cooperati...
H: Adjudication of SCN after 17 years - The High Court ruled that the bel...
H: Finalization of the provisional assessment - The High Court emphasized...
H: Remission of duty - Application of Section 23 - duty free goods brough...
F: Notification No. 3/2023 - Compensation Cess (Rate) dt. 26.07.2023-Is i...
F: Man power supply to Poultry Farm - Taxable or exempt
N: Rate of exchange of one unit of foreign currency equivalent to Indian ...
C: Partial modification to the circular no. IBBI/LIQ/61/2023 dated 28th S...
C: Circular on Standardization of the Private Placement Memorandum (PPM) ...
C: Discontinuation of Safeguard measures on import of Isopropyl alcohol (...
A: The onus is entirely on the Revenue to establish existence of PE every year
A: Know the Contrasts between PF and ESIC