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Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

A sum which has already been disallowed u/s 40A(7) and as such ...

Income Tax

May 5, 2016

A sum which has already been disallowed u/s 40A(7) and as such any further disallowance u/s 43B is absolutely unjustified and untenable - AT

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  1. Disallowance of cash payments in excess of prescribed limit u/s. 40A(3) - even though few payments is covered u/s. 40A(3) of the Act, because of peculiar nature of...

  2. Interest paid to bank disallowed – Applicability of section 43B - merger of non-scheduled bank with scheduled bank - e provisions of section 43B clearly apply after the merger - AT

  3. Disallowance u/s 43B on account of outstanding luxury tax liability - assessee has not realized the amount of luxury tax - no addition or disallowance u/s 43B - HC

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  5. 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...

  6. Disallowance of unpaid service tax u/s 43B - Section 43B does not contemplate liability to pay the service tax before actual receipt of the funds in the account of the...

  7. Disallowance u/s 43B – the assessee has retained the money from the suppliers on the pretext that it will make the payment to the Government - provision of section 43B...

  8. Disallowance u/s 43B - he amount in question as service tax is covered by the provisions of section 43B. - AT

  9. 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...

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