Disallowances of expenditure - Assessee itself has disallowed ...

Income Tax

August 25, 2020

Disallowances of expenditure - Assessee itself has disallowed major part of cash expenses as unaccounted. There would be no justification for making further addition, which evidently would lead to double taxation. - AT

View Source

← Previous Next →

Disallowances of expenditure - Assessee itself has disallowed ...

Income Tax

August 25, 2020

You may also like:

Disallowance u/s 37(1) - payments of expenditure by way of cash - Assessee has incurred 90% of expenses by way of cheque, meaning thereby, in case of business necessity...

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...

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...

Ad-hoc disallowances of the expenses - the expenses claimed for the purpose of the business cannot be disallowed merely on the reasoning that these expenses were...

Unexplained expenses u/s 69C - Cash Expenses incurred by the assessee - A fair estimation of disallowance of cash expenses needs to be done in this case. - disallowance...

Disallowance of travelling expenses - AO while disallowing the expenses has noted that the expenses were incurred on account of trip by cruise ship by director and his...

Unexplained expenditure u/s 69C - expenses incurred on marriage of daughter of assessee - Assessee has cash which was withdrawn on various dates from his bank account...

Capital expenditure - Disallowance of Expenditure on machines - Spare part or machine itself - No material has been brought to show by the revenue that the TUP is not a...

Classification as Revenue or Capital Expenditure – Expenses for transmission - Establishment and maintenance expenditure – It is only in respect of construction and the...

Ad hoc disallowance of 10% of expenses - Since the AO or the Ld. CIT(A) has not rejected the books of account of the assessee they could not have estimated (ad hoc...

Disallowance of “Scholarship Expenses” - Expenses claimed under the head ‘Assistance to Law Students’ - The expenditure incurred by the assessee is the routine...

Disallowance of tour and travel expenses - no details were forthcoming from the assessee to substantiate these travel and conveyance expenses and justify that these...

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...

Disallowance of the expenses claimed on account of employees benefit expenses - AO making the disallowance on the ground that assessee has claimed the expenses basically...

Claim of expenses disallowed u/s 37(1) - expenditure/loss incurred on abandoned project – for the first two years the expenditure is shown as “work-in-progress” - claim...

Quick Updates: