Home Highlights January 2018 Year 2018 This

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1. Adhoc Addition on account of personal use of car, on account of tour and travelling expenses and on account of telephone expenses - When undisputedly assessee has...

2. Addition under the head of Vehicle Running Expenses and Repairs & Maintenance - "exaggerated expense' or "not reasonable expense". - The onus is on the Revenue to...

3. Disallowance of provision for commission expenses - In the instant case, the assessee is aware that it would be liable to pay commission amount to the agent when the...

4. Addition on account of unvouched expenses - Salary expenses - The addition of finally made by CIT(A) comes to less than 10% of expenses claimed, accordingly, the...

5. Addition on account of commission paid and on account of salary - Assessee has inflated the expenses just to reduce the taxable income - additions confirmed.

6. Protective addition on account of unexplained credit entries appearing in the bank account - assessee company is a conduit - addition on account of unaccounted...

7. Determination of income - Commission income or trading activity - addition to the returned income by taking 8% net profit on turnover - in case the assessee would have...

8. Addition on account of gift and presents and general expenses - All the expenses as claimed are fully verifiable and supported by third party vouchers - AO cannot make...

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

10. Addition of Provisions for trade receivable as debited to P&L account under the head "other expenses" - we have to consider substance over the form and the intention of...

11. Disallowance of the expenses claimed on account of employees benefit expenses - AO making the disallowance on the ground that assessee has claimed the expenses basically...

12. Ad hoc additions on account of entertainment expenses and on account of Seminars/conferences - there was no material on record to show that any part of the these...

13. There could not have been an addition on account of Arm’s Length Price as the only two purported reasons regarding claim of loss on account of foreign exchange...

14. Addition u/s 43B - Method of accounting - unpaid statutory dues of service tax, Excise and PF by changing the method of accounting - The assessee followed the exclusive...

15. Unexplained cash credit - addition of cash deposit in bank account - It is important to mention here that the bank statements cannot be termed as books of accounts for...