Home Highlights June 2012 Year 2012 This

You may also like:

1. Professional income V/s Salary income - When an assessee insists that he is rendering professional / technical services to a company, the burden is on him to prove the...

2. Deduction u/s 35(2AB) - Expenditure which was not eligible for weighted deduction u/s 35(2AB) - scientific research and development expenditure - such R&D expenditure...

3. Deduction on the payments of interest to partners u/s 40(b) - when income was taxed u/s 176 (3A) - as per Section 176(3A) income received subsequent to the...

4. Eligibility of relief u/s 89 r.w. Rule 21A of I.T. Rules - Amount to be spread over the years including future years - compensation received by the assessee as only...

5. Deduction of expenditure u/s 40(b) of salary and interest to partners - estimate of net profit rate of 2% shall be deemed to take into consideration all allowable...

6. Claim of deduction u/s. 35AD by stating that the appellant did not build the hotel building - Once deduction u/s.35AD of the Act is claimed then by virtue of section...

7. Weighted deductions claimed u/s 35(2AB) - The petitioner challenged the restriction of the eligibility period for weighted deductions on R&D expenditure, contending it...

8. Nature of expenditure - Expenditure incurred by the assessee towards repairs and renovation of the premises to house the branch - if the expenditure incurred by the...

9. Disallowance of partners’ salary from undisclosed income - deduction allowed - AT

10. Provision made for leave salary allowed as deduction - HC

11. The disallowance of expenditure on salary - strength of 72 doctors against 100 students - AT

12. TP Adjustment - Disallowance of expenditure u/s 40(a)(ia) - any expenditure not for the purpose of business, the A.O. can certainly re-characterize the same as not...

13. TDS u/s 192 - commission paid to partner - considering the provisions of Explanation 2 to Section 15 of the Act which includes salary, bonus, commission or remuneration...

14. Nature of expenditure - assessee itself has capitalized in the financial statements to the expenditure incurred but the assessee has claimed it as a revenue expenditure...

15. Valuation - Cable Operator’s Services - Appellant cannot exclude the amounts received for maintenance charges from taxable value in view the Sub-Rule 1 of Rule 5 of...