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 November 2013 Year 2013 This

Onus on whom to substantiate an expense - The burden was on the ...


Taxpayers Must Prove Expenses Are Solely for Business to Claim Deductions: Key Responsibility Highlighted.

November 19, 2013

Case Laws     Income Tax     AT

Onus on whom to substantiate an expense - The burden was on the assessee to support and substantiate his claim for the expenses by establishing that the same were wholly and exclusively incurred for the purpose of his business - AT

View Source

 


 

You may also like:

  1. ITAT ruled against disallowance of transportation expenses, finding the Assessing Officer failed to establish statutory grounds u/s 37 for rejection. The tribunal...

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

  3. Claim on corporate social responsibility – Expenses incurred wholly and exclusively for the purpose of business - upliftment of the Adivasis in the locality - claim...

  4. Denial of claim of loss or to categorize certain expenses as pre-operative expenses - commencement of business during the year - assessee’s business was ‘set up’ or not...

  5. Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

  6. Disallowance of Travelling and conveyance expenses appearing as credit card payment in the AIR - No doubt, the taxpayer is having details of expenses claimed as...

  7. Disallowance of business expenses - The expenditure is allowed as deduction only if it has been incurred for the purpose of business, payment by way of account payee...

  8. Deduction of expenses u/s.37(1) - Expenses on pooja in temples located outside the factory premises and towards local area expenses claimed to be for social contribution...

  9. Rectification u/s 154 - Deduction claimed u/s. 80IAB - Wrong classification of income under the head ‘income from house property’, has resulted in wrong claim of...

  10. Deduction u/s 80IA on the enhanced expenditures made to sub-contractors - The issue of the claim of higher deduction on the enhanced profits has been a contentious one....

  11. Various issues related to allowability of expenses, deductions, transfer pricing adjustments, and other income tax matters for a pharmaceutical company. Key points are:...

  12. This is a case concerning the disallowance of certain expenses termed as "route expenses" by the Assessing Officer (AO) due to lack of proper supporting vouchers. The...

  13. The ITAT allowed the deduction claimed u/s 80G for Corporate Social Responsibility (CSR) expenditure. The solitary reason for denying the deduction by the lower...

  14. Research and Development expenses (R&D Expenses) - Allowability of expenses u/s 35(2) - The expenses are not covered u/s 35(2) - The assessee has not claimed the same...

  15. Allowable business expenses - There is difference between commencement of the business and setting off of the business. All the expenses incurred pre-commencement are to...

 

Quick Updates:Latest Updates