Claim of expenses - transactions as being not genuine and ...

Case Laws Income Tax

June 24, 2013

Claim of expenses - transactions as being not genuine and representing bogus claims of expenditure - reliance on a comparative chart, showing its gross profit for the year to be comparable and, rather, better than for the other years, is of no consequence - AT

View Source

← Previous Next →

Claim of expenses - transactions as being not genuine and ...

Case Laws Income Tax

June 24, 2013

You may also like:

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...

The assessee, engaged in the business of shares and securities, claimed administration expenses, including Portfolio Management Service (PMS) expenses, against capital...

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...

Revision u/s 254 - NP estimation on turnover - Bogus bills for purchase of diamonds - it is nothing, but a bogus claim of expenditure recorded in the books of accounts...

Deduction of research and development expenses claimed u/s 35(2AB) - weighted deduction - whether the expenditure claimed by the assessee is required to be approved by...

The preliminary assessment u/s 143(1) is limited to processing the return for arithmetical errors, incorrect expense claims, verifying audit reports, deductions, and...

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...

Retraction of surrender of LTCG - Transaction were accepted as bogus but later claimed as Genuine - Subsequent event of the SEBI order holding the transaction in the...

Revision u/s 263 - claiming business expenditure while claiming standard deduction in the rental income - No doubt assessee has claimed the voluntary expenditure under...

Revision u/s 263 - unverified URD purchases - All these transactions are interconnected and linked with each other. If any of the transaction is doubted then...

Claim of expenditure u/s 37(1) - medical insurance premium paid for the family members of the employees of the company - Claim of expenses allowed as business expenditure.

Sharing of expenses - claim of expenditure on the basis of debit note - one cannot imagine that there will be not expenditure of machinery maintenance - claim allowed - AT

Revision u/s 263 - disallowance of expenses - AO had after deliberating at length arrived at a plausible view i.e., allowing of the assessee’s claim for deduction of...

Addition on account of expenses claimed against income received from the BCCI - Since the assessee himself has claimed certain income earned from other sources and...

Disallowance u/s 43B - custom duty expenditure not claimed as expenses in the year of actual payment as appellant was entitled to receive special benefits as per Custom...

Quick Updates: