Home Highlights August 2012 Year 2012 This

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1. 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...

2. MAT computation u/s 115JB - Disallowing exclusion of Excise Duty Exemption as capital receipt availed during the year under consideration in computing book profit as per...

3. MAT - Deduction for provision of bad and doubtful debts while computing book profits u/s.115JB - There is absolutely no quarrel that the case does not fall under Clause...

4. AO/CIT(A) have erred in disallowing the deduction for education cess on income-tax, dividend distribution tax and fringe benefit tax in computing the total income under...

5. Fringe Benefit Tax - Since there was no employer-employee relationship between the assessee on one hand and the doctors on the other hand to whom the free samples were...

6. Allowable deduction - Education Cess (EC) and Secondary & Higher Education Cess (SHEC) on income-tax - It is settled that, education cess on income-tax, dividend...

7. MAT - AO add back the Income-tax paid in Spain while computing book profit u/s. 115JB - only taxes specified in Explanation 2 can be added back while computing book...

8. 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...

9. Addition u/s 14A r.w.r. 8D - Addition under special provision u/s 115JB - Minimum Alternate Tax (MAT) - the case revolved around the disallowance made under Section 14A...

10. FBT - Deemed expenditure chargeable to fringe benefit tax u/s 115WB(2)(H) - there was no fringe benefit in in-house training expenditure - repayment of loan obtained for...

11. Excise duty & Sales Tax to be excluded from turnover for computing deduction u/s 80HHE - AT

12. Disallowance u/s 14A r.w.r 8D - These expenses are directly relatable to earning of exempt income and the same has already been disallowed by the assessee while...

13. Valuation of service tax - Commercial Coaching and Training Service - whether the deductions claimed by the Appellant firm towards reimbursement of expenses on account...

14. MAT Computation - computing book profits u/s.115JB - Provision for expenses - All these expenses are in the nature of regular business expenses incurred by the assessee...

15. Addition of provision made for doubtful debts while computing book profit u/s 115JA - Minimum alternate tax (MAT) - Said amount is to be added to the book profit - HC