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 May 2016 Year 2016 This

AO was in error in disallowing the trade discount u/s 40A(2)(a) ...

Income Tax

May 3, 2016

AO was in error in disallowing the trade discount u/s 40A(2)(a) since trade discount allowed to sister concerns cannot be considered as an item of expenditure incurred by the assessee - AT

View Source

 


 

You may also like:

  1. Addition u/s 40A(2)(a) - trade discount allowed by the assessee to its sister concerns - discount allowed to sister concerns were not unreasonable and cannot be...

  2. Agents incentive expenses - AO has not established that the payments made to the related parties are excessive or unreasonable under the three criterias specified in...

  3. Disallowance u/s 40A(2) - taking loans from sister concerns on interest @6% to 7% and giving loans on interest further @4% - ITAT rightly directed the AO disallow...

  4. Estimation of Profit/Section 40A(2)(b) - JV entered - sub-contracting - AO had formed a view that the assessee JV had suppressed its profit by making excessive payment...

  5. Addition u/s 40A(2)(b) - payment sub-contractors who are the relative of the partners - the authority had rightly disallowed the expenditure so claimed by the assessee - HC

  6. Penal Charges paid to Sister Concern towards cost of storage - deduction disallowed - AT

  7. Disallowance of directors remuneration u/s 40A(2)(a) - A.O by misconstruing the scope and gamut of Sec. 40A(2)(a) had disallowed the entire amount of the directors...

  8. Disallowance of Payments made in Cash u/s 40A(3) - there is no exemption if payment made to sister concerns - AT

  9. Disallowing of loss on shares - method of valuation of shares at cost or market price - Since the assessee has himself treated the same as investment, no trading loss...

  10. Addition u/s 40A (2) (b) - exponential increase in the Directors’ remuneration - CBDT Circular clearly states that no disallowance is to be made u/s 40A (2) in respect...

 

Quick Updates:Latest Updates