Valuation of stock - Section 145A cannot be applied in a ...

Case Laws Income Tax

December 15, 2015

Valuation of stock - Section 145A cannot be applied in a piecemeal and ad-hoc manner to a few handful chosen and selected transactions as is done by the revenue in the instant case which will lead to distortion of income chargeable to tax which is not permissible under the Act. - AT

View Source

← Previous Next →

Valuation of stock - Section 145A cannot be applied in a ...

Case Laws Income Tax

December 15, 2015

You may also like:

Ad hoc disallowance of 10% of expenses - Since the AO or the Ld. CIT(A) has not rejected the books of account of the assessee they could not have estimated (ad hoc...

Disallowance on an ad-hoc basis - in the absence of necessary documentary evidence the AO had no alternative except to make the disallowance on an ad-hoc basis.

Ad-hoc Exemption order No.1/1/2010-ST - Service recipient when liable to pay service tax u/s 66A shall be considered as the service provider should apply in terms to the...

TP adjustment - We are unable to concur with the aforesaid manner in which the TPO had determined the ALP of the referral services rendered by the AE, viz. CLSA, Hong...

TP Adjustment - TPO rejected the comparables selected by the assessee - As assessee, has applied the internal TNMM method as most appropriate and from the aforesaid rule...

Addition u/s 56(2)(viib) - Method of valuation of shares - closely held company issues its shares at a premium - The tribunal sided with the assessee, affirming the FMV...

Denying exemption u/s 11 & 12 - It is quite evident that the floating of subsidiary company was in tune with SEBI directions and contradicts the stand of the revenue...

30% ad-hoc disallowance of travelling expenses being car charges, foreign travelling expenses and domestic travelling expenses - The Assessee argued that the expenses...

Ad-hoc disallowance @ 20% of total site expenses - none of the authorities below as well as Ld. Sr. DR could bring on record any material to dislodge the claim of the...

Ad- hoc disallowance of expenses - Without pointing out any specific expenses, which according to the authorities below were not allowable as deduction, an ad-hoc...

Disallowance of expenses on ad-hoc basis - vehicle running maintenance expenses - when the assessee has successfully demonstrated that the expense has been incurred...

Ad-hoc disallowance at the rate of 10% on credit card expenses - Prima Facie the said disallowance is ad-hoc in nature. AO ought to have made reference to any of such...

Ad-hoc Disallowance towards operational and maintenance expenses - disallowance 20% - the AO can not make any ad-hoc disallowance without pointing out the specific...

Addition on account of inflation of purchases - suppliers were not maintaining the stock register and their books of accounts were rejected at the time of assessment...

Ad-hoc disallowance of various expenses on the ground that said expenses incurred in cash and not further, supported by necessary bills and vouchers - once the Assessing...

Quick Updates: