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 February 2016 Year 2016 This

Provision for accounting and auditing expenses - If the assessee ...

Income Tax

February 3, 2016

Provision for accounting and auditing expenses - If the assessee is following this practice consistently, then it is revenue neutral because every year this expenditure is required to be allowed - AT

View Source

 


 

You may also like:

  1. Extended period of limitation - subsequent SCN - Revenue cannot imagine that the appellant will continue to follow a wrong practice inspite of earlier show cause notice...

  2. Annual Maintenance Contracts - following Principle of matching concept of income and expenses, assessee was justified in not recognizing revenue for the unexpired period...

  3. ST - Revenue neutral exercise - demand can not be raising invoking extended period of limitation.

  4. Valuation of Closing Stock - adjustment of excise duty and VAT - addition - assessee contended aforesaid inclusion to be revenue-neutral - Decided in favor of assessee - AT

  5. Unascertained liability - allowability of future development expenses - expenditure related to the revenue already recognised by the assessee in the year under...

  6. Manufacture of patta and patti - Compounded levy - Appellant failed to succeed on its claim of SSI exemption benefit, due to unregistered status and due to dubious...

  7. Deduction u/s 10A - Adhoc disallowance of professional expenses, electricity charges and miscellaneous expenses - It is not in dispute that the aforesaid administrative...

  8. Revenue neutral exercise - Credit of entry tax paid is available to manufactures - Unless the petitioners discharge their tax liability at their instance, no...

  9. Valuation of closing stock – Addition of proportionate transport charges – adjustment sought to be made is revenue neutral and at best may result in preponement or...

  10. Disallowance on account of provision for expenses made under normal provisions of the Act as well as in the computation of book profits u/s.115JB - The assessee company...

 

Quick Updates:Latest Updates