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 February 2013 Year 2013 This

Common facility charges being 20% paid to its holding company - ...

Income Tax

February 19, 2013

Common facility charges being 20% paid to its holding company - mere fact that the allocation of expenses has not been made on the basis of rigid and detailed formula does not by itself make the expense disallowable under section 40A(2)(b) - AT

View Source

 


 

You may also like:

  1. Entitled for exemption u/s 47(v) with respect to the transfer of land - Holding company - determination of 100% subsidiary company where 25 shares held by 6 nominees -...

  2. Allocation of common expenses between STPI and non-STPI units - The foreign exchange fluctuation can be linked to specific items and how it is not understandable as to...

  3. Addition towards office rent and office maintenance charges - apportionment of expenses to the sister concerns and group companies - When all the assessee's sister...

  4. Levy of GST - Composite supply or not - Various services provided to employees - The Authority concluded that GST is applicable on the amount charged to employees for...

  5. Allocation of preferential export of sugar to USA under TRQ for the year 2019-20

  6. Supply of Services - activity of holding of shares of subsidiary company by holding company - During the proceedings, the Central and State Governments issued...

  7. TDS u/s 194C or 194I - Short-deduction of taxes - payments towards maintenance charges - Addition u/s 201(1) / 201(1 A) - assessee-in-default’ - the common area...

  8. Valuation - cargo handling and port services - inclusion of facility charges in the assessable value - presumption of the Revenue is that the respondent have not...

  9. Disallowance of commission paid - excessive expense on commission - the average rate of commission paid by the assessee to others in respect of rice was 20, but rate of...

  10. Computation of deduction u/s 80IB/80IC - allocation of advertisement expenses to the eligible units in the ratio of turnover of eligible units to the total turnover of...

  11. Capital gain computation - Allowability of transfer expenses [brokerage, air tickets, hotel accommodation receipts, postal charges receipts, conveyance charges, lawyer...

  12. Allocating unallocable expenses to each segment in proportion to segmental turnover to total turnover - all common expenses cannot be apportioned in the universal ratio...

  13. Valuation - C&F agent service - inclusion of reimbursement of expenses - charges collected for activities like loading, unloading, etc are includable in the assessable...

  14. TDS u/s 194A - TDS on deemed dividend - loan advanced by the assessee company to the other group companies - Even if, the appellant company hold 100% shares in these...

  15. TP Adjustment - Allocation of Common Cost - we agree with the TPO’s calculation of allocation based on the direct cost as it is the best suitable basis for allocation of...

 

Quick Updates:Latest Updates