Disallowance of inflated coal expenses - the case of the Revenue ...

Income Tax

August 24, 2023

Disallowance of inflated coal expenses - the case of the Revenue is that assessee might have inflated cost of the coal, however, once the cost of the coal is part of tariff price determination by the regulatory authority and once the electricity is sold on the same tariff which has been credited to the profit and loss account and offered to tax, then there is no question of separately taxing the alleged inflated cost of coal. - AT

View Source

← Previous Next →

Disallowance of inflated coal expenses - the case of the Revenue ...

Income Tax

August 24, 2023

You may also like:

Disallowance of proportionate cost of land out of solid waste tank expense – cost of land debited by the Assessee in Profit and Loss account is not allowable as revenue...

Disallowance on account of depreciation claimed on the cost incurred in relation to the land being non depreciable asset - To our understanding, the impugned expenses...

Disallowance of expenses u/s 40A(3) - ertain payments in excess of ₹ 20,000/- by cash - The assessee was bound to procure the coal to keep the furnace going to...

Disallowance of expenses and commission paid as excessive - Assessing Officer held that the assessee could not substantiate the discrepancies but did not mention...

Deduction u/s 10A - Adhoc disallowance of professional expenses, electricity charges and miscellaneous expenses - It is not in dispute that the aforesaid administrative...

Valuation - Captive Consumption of goods by the sister concern - expenses to be included in the cost of production - Determination of Cost Plus 10% - Rule 8 - The issue...

Disallowance of OBR (overburden removal expenses) - there is nothing on record to establish, or even suggest, that expenses incurred on removal of overburden at the...

Disallowance of building renovation expenses – Capital or revenue expenses - the expenses are to be treated as revenue in nature and allowable u/s 37(1) of the Act - AT

Disallowance of expenses and interest - When the AO required the assessee to furnish the relevant details, it was the assessee who was at fault. - Neither the AO was...

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...

Addition u/s 69C - Unexplained expenses/premium - assessee did not furnish the source of payment of such expenses/premium - The case of assessee throughout the...

Penalty u/s. 271 - Disallowance of expenses were beyond the scope of limited scrutiny for which assessee’s case was selected and hence it cannot be held that simply...

Revenue expenditure or capital expenditure - Allowability of expenses on acquisition of clientele and technical human resource i.e., employees to execute the contract -...

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...

Addition under the head of Vehicle Running Expenses and Repairs & Maintenance - "exaggerated expense' or "not reasonable expense". - The onus is on the Revenue to...

Quick Updates: