Home Highlights July 2014 Year 2014 This

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1. Nature of expenditure - Disallowance of expenditure under the "head repairs and maintenance"- AO rejected the assessee's contention and held that the assessee is...

2. Penalty u/s 271D - loan amount obtained in cash from Directors in emergency - violation of provision of section 269SS - the assessee that on the different dates assessee...

3. Additions towards unrecorded expenditure - A.O. has disallowed the said expenditure in Note 26 foreign currency transactions, pertaining to purchase of shooting...

4. Disallowance of business promotion expenditure to the extent of 50% - The employees and Directors of the assessee company would incur the expenditure in their credit...

5. Allowability of depreciation @10% as against 100% claimed by the assessee - nature of expenditure on Civil work, flooring work, and finishing work, etc incurred as...

6. The assessee's claim for deduction u/s 80IA(4) was denied on the grounds that the assessee is not a developer of any infrastructure project but a simple works contractor...

7. Provision for remuneration of whole time directors – Enhanced directors remuneration – claim of assessee was allowable - AT

8. Penalty u/s 271-D and 271-E - accepting loan in cash from the director of the company - The tribunal held that, the assessee`s case under consideration the transactions...

9. Addition for no TDS on Deemed dividend u/s 2(22)(e) - whether the amounts given the directors are for the business purpose? - the ledger account of the said directors...

10. Levy of penalty u/ss 271D and 271E was challenged - default u/ss 269SS and 269T - assessee received and repaid cash loans from directors and related concerns - assessee...

11. Disallowance of construction expenditure incurred after the issue of occupation certificate (OC) - It is seen that the nature of work which was incurred by the assessee...

12. Disallowance of commission paid to Managing Director and Working Director - it cannot be doubted that the payment of dividend was made in the guise of commission to the directors.

13. The assessee failed to substantiate the provision made for freight, material handling charges, and IT support expenses as an allowable expenditure. The assessee merely...

14. Classification of services - rate of GST - works contract - original works pertaining to railways - first high speed rail line i.e. bullet train in times to come and for...

15. TP Adjustment - PLI computation - if rental expenditure is considered as an operating expenditure, then the reimbursement should be set off against the rental...