Home Highlights June 2015 Year 2015 This

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1. Disallowance of finance costs - proof of business expenses - Share in Joint Venture (JV) - Since assessee is not carrying on any business activity on its own, the...

2. Disallowances of expenses - no business activity - merely lull in the business activities does not mean that the assessee has closed down its business activities. - the...

3. Disallowance of expenditure claimed under the head "Business" - proof of commencement of business - the generation of actual business income was not an essential element...

4. Tribunal adjudicated on ad hoc disallowances of expenses debited to P&L, interest paid to banks, salary from Ozone Pharmaceuticals Ltd., deduction u/s 80IB/80IC, and...

5. Disallowance u/s 40(b) - salary paid to partners - AO did not accept the amount surrendered during the survey as income from business - when the business activity of...

6. Disallowance of salary u/s 40A(2)(b) - Payment of salary and interest to specified (related) persons - The provision u/s 40A(2)(a) clearly shows that before recording...

7. Claim of deduction u/s. 35 - scientific research activities - very fact that expenditure was incurred in the form of salary and overheads only goes to suggest that there...

8. Disallowance u/s 40A (2)(b) - payment of higher salary to the Directors - When a Company pays higher salary to the Directors of the Managers or other Officers or...

9. Exemption u/s 11 - whether the hostel activity of the trust which is imparting dental education in the institution established by it is a business activity incidental to...

10. Disallowance u/s 40(a)(ia) on payment of salary - TDS u/s 192B - in Section 40(a)(ia), the word “Salary” have not been incorporated - no disallowance

11. Disallowance of partners’ salary from undisclosed income - deduction allowed - AT

12. The disallowance of expenditure on salary - strength of 72 doctors against 100 students - AT

13. Interest expenditure disallowance u/s 36(1)(iii) - The term ‘put to use’ applies to capital asset only because capital asset is held to facilitate the business activity...

14. Disallowing claim of expenditure - non-carrying of business activity during the year under reference - The case involved an appeal by an assessee against the...

15. Disallowance u/s 14A - Assessee offered a suo-motto disallowance - By merely stating, that as the assessee was maintaining consolidated accounts, therefore, in the...