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 October 2015 Year 2015 This

Addition made on account of performance related pay provisions ...


Director's Performance Pay Deemed Legitimate Expense; Disallowance Found Unjustified Under Assessee Records.

October 5, 2015

Case Laws     Income Tax     AT

Addition made on account of performance related pay provisions to directors and staff - ascertained liability - there is no reason for disallowing the expenses claimed regarding payment of PRP to the Director since records of the assessee show that they are bonafide expenses which was crystallised. - AT

View Source

 


 

You may also like:

  1. ITAT ruled against disallowance of transportation expenses, finding the Assessing Officer failed to establish statutory grounds u/s 37 for rejection. The tribunal...

  2. Disallowance of travelling expenses - AO while disallowing the expenses has noted that the expenses were incurred on account of trip by cruise ship by director and his...

  3. The ITAT ruled on two issues: 1. Disallowance of Business Promotion Expenses: AO disallowed expenses for a get-together, citing lack of proof of business purpose. CIT(A)...

  4. Disallowance being commission paid to Directors - expenses were incurred in accordance with the provisions of Companies Act. - The commission expenses were paid by...

  5. Disallowance of payment of professional fee to the directors - allegation of paying excessive remuneration to the directors - services provided by the directors towards...

  6. The director's remuneration in the form of commission based on a percentage of the company's total profit is not subject to service tax under the reverse charge...

  7. Additions u/s 69C - purview and scope of section 69C is totally different from the disallowance of expenses found to be not genuine - The basic premise with the CIT...

  8. Performance review of Public Interest Directors (PIDs)

  9. Assessment u/s 153C - disallowance made u/s 37. Assessing Officer observed no supporting evidence for claimed expenses furnished by assessee and non-cooperation during...

  10. Disallowance of conveyance expenses, staff welfare expenses, sundry expenses and traveling expenses - certain expenses were not supported by third party vouchers,...

  11. 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.

  12. Deduction u/s 10A - Adhoc disallowance of professional expenses, electricity charges and miscellaneous expenses - It is not in dispute that the aforesaid administrative...

  13. Levy of GST - salary paid to Director of the company who is paid salary as per contract - Reverse charge mechanism (RCM) - the services rendered by the Director to the...

  14. 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...

  15. ITAT ruled against double taxation of personal credit card expenses initially disallowed under s.37(1) in company's returns. Where company had already acknowledged...

 

Quick Updates:Latest Updates