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Income Tax - Highlights / Catch Notes

Home Highlights February 2016 Year 2016 This

Disallowance of commission payment on sale of property - the ...

Income Tax

February 23, 2016

Disallowance of commission payment on sale of property - the assessee has not discharged the initial burden cast upon it first to prove the genuineness of payment. Therefore, the CIT(A) is justified in disallowing the payment of brokerage to three persons. - AT

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  1. Where the assessee, due to certain scheme, made premature payment of deferred sales-tax and on such payment entire liability to pay tax stood discharged, section 41(1)...

  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 on account of commission paid - justification of payment with services rendered - mere deducting of TDS cannot be discharged onus cast on the assessee for...

  4. Income from sale of property - When all these factual observation are seen cumulatively, the claim of the assessee that the activity of sale of properties should be...

  5. Disallowance u/s 54F - Investment of Sale consideration for claiming exemption on LTCG - Advance was given for purchase of new residential property but the transaction...

  6. Mere payment of commission through account payee cheque after deduction of TDS does not absolve the assessee from discharging its burden with regard to proving business...

  7. Undisclosed incomes - investment in Purchase/sale of immovable property - The onus on the department to prove that investment was made by Assessees or sale consideration...

  8. Computation of long term capital gain - Sale of ancestral property - Exclusion of the amount paid to the unauthorized occupants directly by the purchase of the property...

  9. Value of sale of spare parts should be excluded if sales tax/VAT liability has been discharged on such sales as is evident from the invoices/bills issued in this regard - AT

  10. Penalty u/s 271D - cash received of sales of immovable property - allegation of violation of provisions of Sec.269SS - cash payment was made at one go before the...

 

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