Home Highlights April 2014 Year 2014 This

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1. The ITAT held that the CIT (A) erred in admitting additional evidence without following Rule 46A. Deletion of additions on forfeited amount and various expenses was...

2. The ITAT held that disallowance of advertisement expenses lacked merit as the charges were reasonable. The 15% discount received by the agent did not impact the...

3. The assessee bank made provisions for group gratuity and leave encashment by debiting expenses in its books, but these provisions were never treated as real expenses for...

4. Adhoc Addition on account of personal use of car, on account of tour and travelling expenses and on account of telephone expenses - When undisputedly assessee has...

5. The CESTAT held that the advertisement charges collected by the appellant as reimbursement expense cannot be included in the gross value of franchise service. The...

6. The assessee failed to deduct tax on professional fees paid to various non-residents. The Assessing Officer (AO) held that the fees were liable to tax in India under the...

7. The crux of the case revolves around the applicability of Section 69A read with Section 115BBE of the Income Tax Act on the addition made by the Assessing Officer (AO)...

8. Computation of deduction u/s 80IB/80IC - allocation of advertisement expenses to the eligible units in the ratio of turnover of eligible units to the total turnover of...

9. Disallowance of Advertisement expenses u/s. 37 - the assessee had treated the aforesaid expenses as capital work in progress - advertisement expenses were almost 4 times...

10. Addition on account of gift and presents and general expenses - All the expenses as claimed are fully verifiable and supported by third party vouchers - AO cannot make...

11. Valuation - agreement with dealers for sales promotion - advertisement expenses - the advertisement expenses recovered from the dealers would not be includible in the...

12. Advertisement and marketing expenses – Trading expenses or not - very year, the assessee has been incurring substantial expenditure on advertisements - It is an...

13. The case pertains to rectification u/s 154 and the power of the Assessing Officer (AO) to travel beyond the reasons for which the case was selected for scrutiny. The key...

14. Jurisdictional issue regarding notice u/s 143(2) was addressed, with ITAT holding that the initial notice by ACIT, Circle-5(1), Delhi was within time, and subsequent...

15. 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...