Disallowance of Cenvat Credit – closer of factory - Held that:- ...

CENVAT Credit Write-Off for Factory Closure Allowed as Business Expense u/s 37(1) of Income Tax Act.

November 4, 2013

Case Laws Income Tax AT

Disallowance of Cenvat Credit – closer of factory - Held that:- The assessee was paying higherwrite off of CENVAT credit by the assessee in its books of account is allowable as business expenditure under the provisions of section 37(1) - AT

View Source

← Previous Next →

Disallowance of Cenvat Credit – closer of factory - Held that:- ...

CENVAT Credit Write-Off for Factory Closure Allowed as Business Expense u/s 37(1) of Income Tax Act.

November 4, 2013

Case Laws Income Tax AT

You may also like:

Reversal of Cenvat credit - Inputs found short in factory premises were written off - Shortages written off should be available in the factory prenises for Cenvat credit...

Business loss u/s 28/37(1) - write off/bad debt - advances /bad debt written off in respect of 22 parties - In view of the discussion and relying on the decisions cited...

Rental deposits written off - allowable revenue expenses u/s 37(1) - The assessee could not occupy the property since the required permission was not taken by the owner...

Allowable revenue expenditure u/s 37(1) - Writing off of advance given to the Director - waiver of excess remuneration paid to the Director - The provisions of Section...

Disallowance of service tax written off - the assessee could not utilized the input tax credit on service tax paid for rent and at the end of year such amount was...

The assessee claimed deduction for interest and late fees paid on account of delay in filing GST returns. The authorities disallowed the claim, invoking Explanation 1 to...

Allowability of deduction u/s 37(1) of the Act - Amount of service tax included with interest – expenses have direct nexus with the business operation - expense allowed - HC

Disallowance of sales promotion expenses being gifts to doctors and hospitals - Allowable business expenditure u/s 37(1) - the MCA regulations are applicable to the...

Advances written off - deduction u/s 37(1) - Advances to the employees or advances made for cylinders have to be held to made for carrying out business of the assessee -...

Refund of unutilized Cenvat credit - Other than Rule 5 of Cenvat Credit Rules, there is no other provision either in Cenvat Credit Rules, 2004 or in Central Excise...

The Appellate Tribunal considered the disallowance of advance written off as an expense u/s 36(2). The Assessing Officer argued it should be allowable u/s 37 due to a...

Disallowance of Corporate Social Responsibility (CSR) expenses u/s 37(1) - prior to insertion of Explanation – 2 to section 37(1) of the Act, w.e.f., 01.04.2014, as per...

Expenses under the head research and development - deduction of such expenses under the provisions of section 37(1) OR u/s 35 - the genuineness of the expenses cannot be...

Reversal of cenvat credit on goods lost / written off - returned goods - on written off value, Cenvat credit is not admissible - AT

Write off of outstanding dues - Bad debts claimed u/s 36(1)(vii) - Fresh claim before ITAT, in alternative, as business expenditure u/s 37(1) - The assessee at this...

Quick Updates: