Receipt of contractual amount - undisclosed business receipts - ...

Income Tax

August 4, 2022

Receipt of contractual amount - undisclosed business receipts - Until, it is brought on record that the assessee was subject to the provisions of section 194C we are of the view that no disallowance can be made of the expenses claimed by the assessee under the provisions of section 194C read with section 40(a)(ia) of the Act on account of non-deduction of TDS. - AT

View Source

← Previous Next →

Receipt of contractual amount - undisclosed business receipts - ...

Income Tax

August 4, 2022

You may also like:

Unexplained cash credits u/s 68 - huge amount of cash deposited and withdrawal from bank - once the Revenue has not disputed that the assessee is engaged in construction...

Even upon detection of on money receipt or unaccounted cash receipt, what can be brought to tax is the profit embedded in such receipts and not the entire receipts themselves - HC

Addition u/s 69A - unaccounted business receipt - various submissions were filed by the assessee to explain the source but revenue authorities could not go deeper to...

Mall upkeep and promotional fees received by the assessee - amount of maintenance charges received were business receipts assessable under the head 'business income'.... - HC

Characterization of receipt - in respect of business exigencies the compensation specially in respect of damage to properties through fire or any other activities, the...

Undisclosed income - addition on the basis of amount reflected in Form No.26AS - No dispute with regard to the fact that the AO taxed the entire difference of receipts -...

Additions of varied amounts on account of unaccounted on-money - Seized material in search - the Assessing Officer was not justified in bringing to tax the whole amount...

Entitlement to expenses against the undisclosed receipts of truck - The assessee’s case, being wholly unsubstantiated and presumptuous, has thus rightly been not...

Remission of loan liability - waiver of the loan amount was a capital receipt not taxable as business income of the assessee - AT

Correct head of income - nature of receipt from lease/ rent - the assessee employed commercial assets to earn income. Unless and until the income is treated as business...

Quick Updates: