Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2019 Year 2019 This

Revision u/s 263 - CIT observed that huge sales promotion ...

Income Tax

November 22, 2019

Revision u/s 263 - CIT observed that huge sales promotion expenses has not been looked into deeply. Although a 5% disallowances has been made, but no meaningful verification has been made so as to enquire its genuineness and reason for huge increase in the present year - Revision order sustained.

View Source

 


 

You may also like:

  1. Revision u/s 263 - The ITAT held that the AO had conducted adequate inquiries into the sales promotion expenses, as evidenced by the issuance of specific queries to the...

  2. Revision of assessment order - CIT noticed huge amount of withdrawals/ payments by the party - Provisions contained u/s 263 cannot be used as a tool to start roving and...

  3. Sales promotion expenses - expenditure with respect to the gold chains being distributed - expenditure allowed - AT

  4. Disallowance of expenditure u/s. 37 - There is merit in the alternative contention of assessee that the expenses incurred on organizing an event to celebrate Ireland...

  5. Valuation - agreement with dealers for sales promotion - advertisement expenses - the advertisement expenses recovered from the dealers would not be includible in the...

  6. Revision u/s 263 by CIT - As per PCIT AO fails to examine the issue on increase in share premium in light of provisions of section 56(2)(vii), although, the assessee has...

  7. Cenvat Credit - sales commission/sales promotion expenses incurred by the appellant is expenditure or input service incurred or received prior to the removal of their...

  8. Addition on account of Business Promotion Expenses - personal element in the business promotion expenses to the extent of 10% of the total expenses cannot be ruled out.

  9. Revision u/s 263 - Disallowance of genuineness of salary and other expenses - payment of huge salary in cash - AO passed the order without proper verification is...

  10. Revision u/s 263 - PCIT partially looking into the assessment records and initiated the Revision proceedings on the ground that the assessee failed to submit evidences...

 

Quick Updates:Latest Updates