Home Highlights September 2017 Year 2017 This

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1. Disallowance of an expenditure incurred representing the interest paid - case was selected for limited scrutiny on different issues - A.O. has not made any...

2. Disallowance u/s 14A r.w.r. 8D - since AO has mechanically applied the provisions of Rule 8D while making the aforesaid disallowance without establishing any nexus of...

3. Unexplained cash credit - In fact, the loans are taken from close family members and friends. It is not a case of the AO that the assessee had taken loans from certain...

4. IT, Estimation of income without rejecting books of accounts is arbitrary, addition made by AO deleted

5. Disallowance u/s 14A - CIT-A restricted the addition - when no exempt income is earned or disallowance u/s 14A upto the the exempt income only - Since the assessee could...

6. MAT computation - Addition made to the book profit computed u/s 115JB on disallowance computed u/s 14A in respect of exempt income - the disallowance made u/s 14A is a...

7. Additions u/s 40A(3) - Payment made in Cash - Since the AO has not doubted the genuineness of the expenses as no such disallowance has been made and the AO has made only...

8. Rectification of mistake u/s 154 - deduction u/s. 10A - View taken by the Ld. AO in the proceedings initiated u/s. 154 tantamount to a change in view resulting into...

9. Accrual of income - Addition made to the income of the assessee received by the assessee from “JDS” and its associates, treated as own income of the assessee - Despite...

10. Disallowance u/s 14A - voluntarily disallowance made was more than dividend income received - further disallowance made by the AO and confirmed by CIT(A)is not warranted...

11. Disallowance u/s 14A - Disallowance made on account of interest expenditure - AO has not made any disallowance on account of interest expenditure u/s 14A of the I.T. Act...

12. Computing the deduction u/s 10A - addition made on account of the disallowance of the provident fund/ ESIC payments u/s 36(v) r.w.s 2(24) (x) - The contention of the...

13. Disallowance u/s 14A r.w rule 8D(2)(iii) - since there is no tax free income, there could not be any disallowance u/s 14A - AO directed to re-compute the income of the...

14. Addition u/s 14A r.w.r. 8D - There is no such provision in the statute that no disallowance of expenditure could be made on investments made in the earlier years....

15. Disallowance made u/s.14A of the Act while computing book profit u/s.115JB - actual expenses debited to profit and loss account which are incurred for the purpose of...