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Income Tax - Highlights / Catch Notes

Home Highlights December 2015 Year 2015 This

Addition on account of income not shown in the P&L account - AO ...

Income Tax

December 7, 2015

Addition on account of income not shown in the P&L account - AO made disallowance on the basis that the expenditure could not be verified from the Gujarat Electricity Board [GEB] - CIT(A) delted the addition - claim of expenses allowed - AT

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  1. Travelling & conveyance (Director) expenditure - assessee shown its inability to produce any documentary evidence - Disallowance of 25% made by the AO is not unreasonable - AT

  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. Disallowance on an ad-hoc basis - in the absence of necessary documentary evidence the AO had no alternative except to make the disallowance on an ad-hoc basis.

  4. Disallowance of an expenditure incurred representing the interest paid - case was selected for limited scrutiny on different issues - A.O. has not made any...

  5. Bogus purchases - Disallowance of expenditure regarding sundry creditors - AO was adding amounts on the basis of then un-reconciled differences which is violation of the...

  6. Disallowance of expenditure u/s. 40A(3) - AO without verifying necessary cash book to ascertain the quantum of payments has simply made disallowance with a vague...

  7. Disallowance of expenses made u/s.37(1) - disallowance of expenditure on adhoc basis made by the ld. AO by giving a categorical finding that the ld. AO had not even...

  8. Disallowance of expenditure towards development of property - no supporting bills of expenditure were provided - CIT(A) has allowed on ad hoc basis only 40% of the...

  9. Disallowance u/s 14A - Disallowance made on account of interest expenditure - AO has not made any disallowance on account of interest expenditure u/s 14A of the I.T. Act...

  10. 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

 

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