Home Highlights June 2016 Year 2016 This

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1. Disallowance of the provisions made for leave encashment - Post 01.04.2001, deduction of any sum on account of payment towards employees leave encashment would be...

2. Year-end Provision – assessee had made certain provisions for expenses at the end of the year for which deduction of tax at source has not been made - There is a...

3. Provision made for leave salary allowed as deduction - HC

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

5. The case pertains to deductions claimed by the assessee u/ss 36(1)(vii) and 36(1)(viia) of the Income Tax Act for amounts written off by rural branches and the...

6. TDS u/s 195 - use of logo - license fee payment without deducting TDS SUPIMA, USA - Agreement clearly shows that the payment is made by the assessee to use the Logo of...

7. Deduction u/s 80IC - Since in the present case the fact that the assessee had undertaken substantial expansion is not disputed, the assessee, we hold, is entitled to...

8. Deduction us.37(1) on account of “Escrow Disbursement Provision” ('EDP’) - Prior period expenditure - To put it simply, the AO will bifurcate total Escrow Disbursement...

9. Addition u/s 40(a)(ia) - Non-deduction of TDS - year end provisions was made by assessee in respect of expenses - As regards to the claim of the assessee that in...

10. Disallowance of “Provision for leave travelling allowance” - the liability to pay would arise in the hands of the assessee only when an employee makes a claim. - order...

11. TDS u/s 194H - provision towards commission made - As similar provisions were made in earlier years as well as subsequent years by the assessee and the TDS was not...

12. Disallowance of provision for gratuity and leave encashment - in case of trust, the meaning ‘applied’ need not be construed as ‘spent’. It includes the necessary...

13. Deduction u/s 80IA - Treatment to carbon credit receipt - Section 115BBG of the Act was introduced by Finance Act, 2017 with effect from 01.04.2018, prior to which,...

14. The assessee bank made provisions for group gratuity and leave encashment by debiting expenses in its books, but these provisions were never treated as real expenses for...

15. Deduction of Provision made towards long service benefit liability - Crystalization and Accrual of expenses - scientific basis for creating a provision - when the...