Addition on account of Suspense Account Treating it as income ...

Case Laws Income Tax

January 13, 2014

Addition on account of Suspense Account Treating it as income u/s 28(iv) - Income u/s 28(iv) on account of benefit can be assessed to tax only on receipt basis - the addition made by the A.O. u/s 28(iv) of the Act on account of suspense account balance pertaining to the earlier year is not sustainable - AT

View Source

← Previous Next →

Addition on account of Suspense Account Treating it as income ...

Case Laws Income Tax

January 13, 2014

You may also like:

Addition u/s 28(iv) or 43(1) - Receipt of Special Redistributors' Incentive - The amount of incentive received by the assessee from M/s. Usha International Ltd....

Concerning the addition u/s 28(iv) for the amount credited to Capital Reserves on account of allotment of shares by the amalgamated company with respect to the shares...

Additions (Benefit) u/s 28(iv) - Expenditure incurred by the HO for salary paid to the expatriate employees for rendering services to PE - The tribunal upheld the...

The case pertains to the taxability of a reserve arising from an amalgamation u/s 28(iv) and Section 56(2)(x)(c) of the Income Tax Act. The key points are: The appointed...

Addition towards undisclosed income being write back of redeemable non cumulative preference shares - write back of preference share capital cannot be taxed u/s 28(iv)...

Addition u/s 28(iv) - Sweat equity shares - shares have been allotted to the appellant without any amount being paid as consideration in lieu of the appellant being an...

Key legal issues and the Tribunal's holdings: Agricultural land sold by assessee situated beyond municipal limits cannot be treated as capital asset u/s 2(14). Addition...

Addition of amount transferred from deferred income [reserves] to profit and loss account - it is a notional entry in its books of account and not effecting the real...

Depreciation claim disallowance u/s 40(a)(i) for failure to deduct TDS on capitalized software payments is disallowed, following coordinate bench decision. Addition u/s...

Unexplained investment - Tax value of certain assets received by it free of cost under Section 28(iv) - Therefore, the addition u/s. 69 of the Act cannot be sustained. -...

Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

Addition u/s. 28(iv) - waiver of the outstanding principal amount of loan - amount used for the purchase of capital asset, the waiver thereof is a capital receipt not...

Addition u/s 28(iv) r.w. section 41 r.w. explanation 2(iv) – the amount waived by the lender bank is not an income u/s 2(24) of the Act and further Section 28 also does...

Income from waiver of loan - income changeable to tax or not? - brought to tax under section 28(iv) of the Act or under section 41(1) - it is clear that in the case...

Income taxable under section 28(iv) – amalgamation - treatment of sum transferred by the assessee to its General Reserve - not in the nature of any benefit or perquisite...

Quick Updates: