Home Highlights May 2016 Year 2016 This

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1. Disallowance of gratuity and compensation, payment made to common support staff and expenses in respect of processing unit which was permanently closed down - closure of...

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

3. Deduction u/s 35DDA - Retrenchment compensation paid on the closure of the assessee's manufacturing unit in Kalamassery - one unit out of three closed down - claim of...

4. Disallowance of tour and travel expenses - no details were forthcoming from the assessee to substantiate these travel and conveyance expenses and justify that these...

5. Allowable business expenses - There is difference between commencement of the business and setting off of the business. All the expenses incurred pre-commencement are to...

6. Ad-hoc disallowances of the expenses - the expenses claimed for the purpose of the business cannot be disallowed merely on the reasoning that these expenses were...

7. Section 44C refers to common head office expenses and cannot encompass the expenses exclusively incurred by the expenses incurred by head office employees exclusively...

8. Valuation - inclusion of advertisement and publicity expenses incurred by the dealers as per the terms and conditions of the dealership agreement mutually agreed between...

9. Disallowance on account of depreciation claimed on the cost incurred in relation to the land being non depreciable asset - To our understanding, the impugned expenses...

10. Nature of expenditure - expenses incurred on account of professional and legal fees - The expenses are not incurred for exploring the market for a new product and rather...

11. Computation of deduction u/s 80IB/80IC - allocation of advertisement expenses to the eligible units in the ratio of turnover of eligible units to the total turnover of...

12. Deduction u/s 10AA - once separate books of account have been maintained for each of the undertakings, there is no basis for the AO to allege that any of the expenses of...

13. Deduction u/s 80IC - allocation of the cartage expenses and diesel and oil expenses among two units - determination of the eligible profit - CIT(A) has rightly allocated...

14. Transfer of CENVAT Credit - closure of Delhi unit & merger with its Baddi unit - Rule 10 of CCR - prima-facie with respect to claim of the appellant or request for...

15. Addition u/s 69C - Unexplained expenses/premium - assessee did not furnish the source of payment of such expenses/premium - The case of assessee throughout the...