Accrual of expenses - whether provision for hank yarn obligation ...

Income Tax

May 24, 2012

Accrual of expenses - whether provision for hank yarn obligation is allowable as a deduction in this assessment year when the assessee has not fulfilled its obligation and textile commissioner had extended the time for fulfilment till 31.3.95 - held yes - HC

View Source

← Previous Next →

Accrual of expenses - whether provision for hank yarn obligation ...

Income Tax

May 24, 2012

You may also like:

Provision for future liabilities (expenses) - whether allowable - mercantile basis of accounting - held yes - HC

Benefits of exemption - The Hank Yarn of others types of Yarns like Silk for Handloom Kancheepuram and Banarasi Silk Sarees, Khadi Slik, Linen fabric are also used by...

Rate of Tax - Yarn - this being an exemption clause, strict interpretation has to be given to such exemption clause, and there is no room for any liberal interpretation...

Allowable business expenditure - Lapse of GST input credit - Disallowance u/s 43B - The said GST Credit lapse is not a provision made by the assessee bank. If said...

Loss from other source [wrongly shown as interest] and set off u/s.71 - assessee had opted for the deeming provision contemplated u/s.44AD of the Act but had separately...

TPA - ALP - Provision of expenses - The AO has misunderstood the provision debited and credited to the price support account as a mere provision and not as an actual...

Allowable expenses u/s 37 - Disallowances of foreign travel expenses and other expenses - the expenses incurred by the Assessee on various items as well as the...

Appellant company was not manufacturing or clearing any hank yarn and was clearing cone yarn clandestinely. The appellant has not put forward even slightest evidence to...

Addition u/s 40(a)(ia) - Non-deduction of TDS - year end provisions was made by assessee in respect of expenses - As regards to the claim of the assessee that in...

Expenses under the head research and development - deduction of such expenses under the provisions of section 37(1) OR u/s 35 - the genuineness of the expenses cannot be...

Allowable expenditure - interest payment on custom duty are expenses allowable under the provisions of the Act - AT

Disallowance of deduction claimed u/s 10AA after claiming deduction / exemption u/s 10A - SEZ unit - As on the commencement of assessment year 2006-07, which is the...

Provision for bad and doubtful debts u/s 36(1)(viia) against the advances of rural branches - The circular mentions that the provisions of new clause (viia) of section...

Claim of deduction of Provisions made - Basis of creating the provision - uncertain liability or not - The above facts would substantiate that the provision has been...

Allowable deduction of interest paid on the borrowings - Section 14A and Section 36(1)(iii) - Exempted dividend income - Based on the discussions and findings, the court...

Quick Updates: