Nature of receipts - The expenses such as processing fees, ...

Income Tax

August 6, 2016

Nature of receipts - The expenses such as processing fees, damage charges, verification charges, reimbursement charges and lease rent etc are expenses and they cannot be added to the income. The character of the receipts above is not synonymous to interest on loans and advances. - HC

View Source

← Previous Next →

Nature of receipts - The expenses such as processing fees, ...

Income Tax

August 6, 2016

You may also like:

Damages/compensation received - nature of receipt - the amount received towards compensation/damage for settlement of dispute is capital receipt, hence not taxable.

Nature of receipt - damages received from DDA - loss of sources of income - Arbitration awards from DDA in respect of construction of houses - Receipt is capital in...

Capital gain computation - Allowability of transfer expenses [brokerage, air tickets, hotel accommodation receipts, postal charges receipts, conveyance charges, lawyer...

Import of services - reverse charge - payment of arrangement fees, underwriting fees, agency fees and legal fees as also out of pocket expenses - demand of service tax...

Grant of registration u/s 12AB & 80G Denied - receipts from parents of children - The factual aspects clearly demonstrate that the payments made by parents are in the...

Registration expenses deleted - payments made under the heads consultancy fees, bank charges and other expenses cannot be held to be not incurred for the business for year - AT

Nature of expenditure - Whether expenditure incurred by the assessee like stamp charges, loan processing fee on term loan, marketing fees, sourcing expenses, share issue...

Remission of duty u/r 21 of CER - damage of godos due to flood and rains - destruction and disposal of goods without verification/inspection cannot be condoned - AT

Disallowance of assessee’s claim in respect of its liquidated damages - Revenue argument that these liquidated damages are only in the nature of a provision is...

Deduction on Payment basis u/s 43B - electricity charges to the APSEB cannot be termed as "fees" - electricity charges are in the nature of statutory liability -...

Quick Updates: