Mere failure to file the relevant vouchers as required by the AO ...

Case Laws Income Tax

January 10, 2017

Mere failure to file the relevant vouchers as required by the AO cannot be the basis for disallowance unless it is found that the expenditures were not incurred wholly and exclusively for the purpose of business - AT

View Source

← Previous Next →

Mere failure to file the relevant vouchers as required by the AO ...

Case Laws Income Tax

January 10, 2017

You may also like:

Disallowance of various expenses on ad hoc basis - While scrutinizing the expenditure if the expenses claimed are not having any nexus to the business of the assessee or...

Additions u/s 40A(3) - Payment made in Cash - Since the AO has not doubted the genuineness of the expenses as no such disallowance has been made and the AO has made only...

Absence of valid satisfaction recorded by AO before initiating assessment under special provision where search took place. Satisfaction note did not reveal AO's averment...

Reopening of assessment u/s 147 - The entire exercise of re-opening would depend upon the reasons recorded by the AO and therefore the reasons recorded to re-open the...

Disallowance - excess consumption of Tendu leaves - AO's addition 1/3rd, was found to be reasonable - HC

In the present case, the Assessing Officer (AO) disallowed the expenditure claimed u/s 57(iii) of the Income Tax Act on an ad-hoc basis. The AO did not challenge the...

Disallowance of the expenses claimed on ad hoc basis - If the AO was of the view that some of the vouchers are missing, the amount of addition should have been made of...

Unexplained u/s.68 - un-explained cash credit addition - Huge amount withdrawn from bank - self made vouchers for expenses - AO observed that expenses were not supported...

Disallowance of expenditure on account of the weighing and unloading charges - If the Assessing Officer had any doubt with regard to the genuinity of any one of the...

The Appellate Tribunal considered the levy of penalty u/s 270A. The Assessing Officer (AO) imposed the penalty u/s 270A(9)(a) for misrepresentation of facts and...

Disallowance of expenses and interest - When the AO required the assessee to furnish the relevant details, it was the assessee who was at fault. - Neither the AO was...

The ITAT held that interest disallowance was not justified as borrowed funds were invested in equity shares, not loans. Disallowance of land acquisition cost was...

Cash credit u/s 68 r.w.s. 115BBE - cash deposit during demonetization period - assessee's failure to maintain books of accounts u/s 44AD. Held that where exemption from...

Mere disallowance of expenses u/s 40A(3) would not invite penalty for concealing or furnishing inaccurate particulars of income. Assessee disclosed all particulars...

Imposition of GST on vouchers - The petitioner, involved in managing corporate reward programs, contested an assessment order imposing GST on vouchers they dealt with....

Quick Updates: