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Income Tax - Highlights / Catch Notes

Home Highlights January 2017 Year 2017 This

Disallowance of the business promotion expenditure through ...

Income Tax

January 19, 2017

Disallowance of the business promotion expenditure through credit cards - If the AO had any doubt, it was his duty to make further investigation and pinpoint the actual expenditure not incurred for the business of the assessee - AT

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  1. Ad-hoc disallowance at the rate of 10% on credit card expenses - Prima Facie the said disallowance is ad-hoc in nature. AO ought to have made reference to any of such...

  2. Addition towards payment made to credit card company - since the assessee had not claimed any expenditure, the question of proving whether it was for the purpose of...

  3. Benefit of Section 11 & 12 - the assumption of the AO that the expenditure incurred through credit card was personal, is not correct.

  4. Disallowance of business promotion expenditure to the extent of 50% - The employees and Directors of the assessee company would incur the expenditure in their credit...

  5. Cenvat credit - entitlement - Whether the Commission Agent Services would be classifiable as Business Auxiliary Service as per Department or Sales Promotion service as...

  6. Adjustment of arm's length price - There is no reason to change the head of expenses from advertisement expenditure to business promotion expenditure - AT

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  8. Various doubts related to treatment of sales promotion scheme under GST clarified

  9. Cenvat Credit - sales commission/sales promotion expenses incurred by the appellant is expenditure or input service incurred or received prior to the removal of their...

  10. Disallowance of expenses made u/s.37(1) - disallowance of expenditure on adhoc basis made by the ld. AO by giving a categorical finding that the ld. AO had not even...

 

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