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Income Tax - Highlights / Catch Notes

Home Highlights December 2016 Year 2016 This

Allowability of development expenses incurred in respect of land ...

Income Tax

December 5, 2016

Allowability of development expenses incurred in respect of land sold - assessee failed to prove that the said charges was paid for removal of encroachments have been paid in cash - AT

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  1. Disallowance of land development charges - onus is on the assessee to establish on evidence that the land development expenses were incurred wholly and exclusively for...

  2. Allowability of development expenses - CIT(A) was justified in allowing the claim of estimated development expenses booked by the assessee in the Profit & Loss Account...

  3. The expenses incurred are in the nature of employee benefits, though paid under secondment agreement, in respect of persons working for the assessee - Expenses are...

  4. Nature of expenses – Capital OR Revenue – GPA registration charges - The entire expenditure is completely revenue in nature since it is incurred for carrying out the...

  5. Nature of land sold - sale of agricultural land or not - it is nowhere necessary for an assessee to prove carrying out actual agricultural activity of the land

  6. Unexplained expenditure u/s 69C - The AO has not brought any evidence on record which can demonstrate that assessee has incurred expenses for development work. - There...

  7. Nature of expenditure incurred towards research and development - The fact that the expenses incurred by the assessee towards research and expenses have been met out of...

  8. Allowability of Medical expenses for staff / Director - keeping the principal of “commercial expediency” the assessee incurred the expenditure on his hospitalisation and...

  9. Service charges paid on software development to DERPOL - expenses claimed by the assessee are of revenue in nature - AT

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

 

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