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 August 2015 Year 2015 This

Disallowance the commission paid to the agents - claim cannot ...


Prior Commission Approval Doesn't Guarantee Future Allowance; Errors Can Be Corrected in Later Assessments.

August 13, 2015

Case Laws     Income Tax     HC

Disallowance the commission paid to the agents - claim cannot be allowed on a regular basis merely because it was allowed in one year or for several years. If a mistake has happened, it can always be corrected in a subsequent assessment - HC

View Source

 


 

You may also like:

  1. Transfer pricing adjustment towards notional guarantee commission chargeable for the guarantee extended to its associated enterprises - commission chargeable for...

  2. Deduction u/s 37 - Guarantee commission paid to State Government – allowed as revenue expenditure - HC

  3. Guarantee commission paid to the Directors of the Company – whole of the guarantee commission shall be allowed - AT

  4. Challenge to an interim arbitral award u/s 31(6) of the Arbitration and Conciliation Act, 1996. The key issues are: (1) whether the rejection of an application u/s 16...

  5. The SC delivered a split verdict regarding the interpretation of Section 31(4) proviso of IBC concerning CCI approval timing for resolution plans. The majority opinion...

  6. Transfer pricing adjustment – Guarantee charges for guarantee to AE – no upward adjustment in the ALP in relation to charging of guarantee commission over and above...

  7. Once a resolution plan is approved u/s 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), only the debts specified in the resolution plan remain payable. This...

  8. Approval of Resolution Plan - when to obtain approval from the CCI? - Although, the RP subsequently clarified that approval can be obtained even after the approval by...

  9. Reopening of assessment u/s 147 - order u/s 148(A)(d) was passed by respondent without obtaining prior approval of specified authority, i.e. Principal Chief Commissioner...

  10. The text appears to be a comprehensive legal document outlining bank guarantee and customs bond procedures. Here's the focused legal summary: The document establishes...

  11. The case involved seeking ex-post facto approval for Section 7 applications u/s 35(5) proviso. The issue was whether prior approval by the Adjudicating Authority for the...

  12. Demand of service tax on guarantee commission under reverse charge mechanism - the appellant is liable to discharge service tax on the Guarantee commission paid to...

  13. TP Adjustment - ‘receipt of counter guarantee commission - providing counter guarantee at the instance of its overseas AE - TPA made in the impugned assessment order...

  14. Accrual of income - Deferred Bank Guarantee Commission - he commission income arising from the guarantee given on behalf of the customer has been recognized by the...

  15. Transfer price adjustment - Bank guarantee commission - There was a clear benefit accrued to the Associated Enterprises by the guarantee provided by the assessee and...

 

Quick Updates:Latest Updates