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 December 2012 Year 2012 This

Addition u/s 40A(2)(a)(b) on the ground that the assessee had ...

Income Tax

December 14, 2012

Addition u/s 40A(2)(a)(b) on the ground that the assessee had allowed discount @ 3% tosister concern - It is not disputed that the assessee has neither claimed any deduction as expenditure incurred towards discount offer nor the lesser price charged by it. - Addition deleted - HC

View Source

 


 

You may also like:

  1. Addition u/s 40A(2)(a) - trade discount allowed by the assessee to its sister concerns - discount allowed to sister concerns were not unreasonable and cannot be...

  2. Addition u/s 40A(3) - cash purchases of petrol - Assessee was in the habit of purchasing petrol regularly - Assessee has not produced any documentary evidences to...

  3. Addition u/s 40A(2) - Allegation of Excessive price paid to related parties - The provisions of section 40A(2) of the Act applies for making disallowance of expenses for...

  4. Disallowance of cash payments in excess of prescribed limit u/s. 40A(3) - even though few payments is covered u/s. 40A(3) of the Act, because of peculiar nature of...

  5. Addition u/s. 40A(3) - additions made towards cash payments in excess of prescribed limit - Since, the assessee was only an agent for distributor and collected money...

  6. Estimation of Profit/Section 40A(2)(b) - JV entered - sub-contracting - AO had formed a view that the assessee JV had suppressed its profit by making excessive payment...

  7. Addition u/s 40A(3) - variation in the recording of entries in assessee’s ledger - provisions of section 40A(3) shall not be a hindrance in the business operation of the...

  8. Disallowance u/s. 40A(3) - assessee has made cash payment of ₹ 2 Lakhs to a sister concern - this amount was not claimed as an expenditure, no disallowance is...

  9. Additions u/s 40A(3) - Payment made in Cash - Since the AO has not doubted the genuineness of the expenses as no such disallowance has been made and the AO has made only...

  10. Addition u/s 40A(2) - disallowance of interest claim of 9% - ITAT has rightly concluded that the provisions like Section 40A are meant to check evasion of tax through...

  11. Addition u/s 40A(3) - Payment not made in cash but paid to third parties on behalf of supplier of goods – AO was not justified in invoking the section 40A(3) - AT

  12. Disallowance u/s 40A(3) - cash payment - There is no case of addition of section 40A(3) with regard to purchases that were made on account of capital items - AT

  13. Disallowance u/s 40A(3) - cash payments of expenditures - poor creditability in the market - genuineness of such expenditure is not in dispute - AO directed to sustain...

  14. If the LAA finds that demand is time-barred, he should only set aside the demand on that ground but cannot advise assessee concerned to discharge the disputed amount...

  15. Addition u/s.40A(3) - cash payments were effected by the assessee for the purpose of acquiring rights to screen movies in their theatres as exceeded ₹ 20,000/- -...

 

Quick Updates:Latest Updates