Disallowance of expenditure towards development of property - no ...

Income Tax

May 9, 2020

Disallowance of expenditure towards development of property - no supporting bills of expenditure were provided - CIT(A) has allowed on ad hoc basis only 40% of the expenditure so claimed was genuine and incurred for developing the property - No justification in the order of the ld. CIT(A) for sustaining disallowance of 40% against the 50% disallowance made by the A.O., therefore, the A.O. is directed to allow full expenditure so incurred by the assessee.

View Source

← Previous Next →

Disallowance of expenditure towards development of property - no ...

Income Tax

May 9, 2020

You may also like:

Disallowances of certain expenditure - Mere production of ledger extract without supporting bills and vouchers would not absolve the assessee from proving the...

Research and Development expenditure i.e. G.E.Linear Development Expenditure, Eaton Project Development - the expenditure did not reflect that any new capital asset had...

Disallowance expenditure towards replacement of machinery - Revenue OR Capital - not amounting to "current repairs" and to be not allowed as revenue expenditure - HC

Penalty u/s 271(1)(c) - Disallowance of interest expenditure under section 43B as well as disallowance export product development expenses - Just because the assessee...

Disallowance of the claim incurred towards fees paid to Babson College, USA, for a management trainee - expenditure could not be treated as research & development...

Software development expenditure which was application software was revenue in nature - deduction allowed u/s 37.

Product development cost as revenue expenditure - dyes brought an advantage of an enduring nature to the assessee - not allowed as revenue expenditure - to be...

Nature of expenditure incurred towards research and development - The fact that the expenses incurred by the assessee towards research and expenses have been met out of...

Disallowance of interest expenses – partners are entitled to hold the properties belonging to the partnership firm in their individual name, provided it is explicitly...

Disallowance of various expenses on ad hoc basis - While scrutinizing the expenditure if the expenses claimed are not having any nexus to the business of the assessee or...

Quick Updates: