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 January 2017 Year 2017 This

Disallowance of the business promotion expenditure through ...


Assessing Officer's Duty to Investigate Business Promotion Expenses via Credit Card Doubts Clarified.

January 19, 2017

Case Laws     Income Tax     AT

Disallowance of the business promotion expenditure through credit cards - If the AO had any doubt, it was his duty to make further investigation and pinpoint the actual expenditure not incurred for the business of the assessee - AT

View Source

 


 

You may also like:

  1. Addition on account of Business Promotion Expenses - personal element in the business promotion expenses to the extent of 10% of the total expenses cannot be ruled out.

  2. 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...

  3. Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

  4. Deduction claimed u/s 57 against income returned u/s 56 - manner of apportioning assessee's expenses to earning income u/s 56 disputed - Revenue authorities rejecting...

  5. 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...

  6. Credit of TDS can be granted only when income corresponding to such TDS is assessed to tax in the same financial year. Assessee has the liberty to approach the Assessing...

  7. Disallowance of Travelling and conveyance expenses appearing as credit card payment in the AIR - No doubt, the taxpayer is having details of expenses claimed as...

  8. Levy of penalty u/s 271(1)(c) - Disallowances against Credit card expense and computer expenses - considering the amount involve, the contention of the revenue authority...

  9. The assessee, engaged in the business of shares and securities, claimed administration expenses, including Portfolio Management Service (PMS) expenses, against capital...

  10. The ITAT allowed the assessee's appeal for statistical purposes and remanded the matter to the Assessing Officer/Transfer Pricing Officer for fresh adjudication....

  11. Seeking grant of bail - Director / officer who is in default - the Investigating Officer had not filed any application seeking that the petitioner be placed in judicial...

  12. Credit card expenses - the said expenditures were incurred wholly and exclusively for the purpose of business of the assessee as they are related to staff training...

  13. Penalty u/s 271(1)(c) - The Appellate Tribunal observed that the appellant, during reassessment proceedings, had filed their return of income but failed to provide...

  14. Levy of IGST - credit card services - interest component of the Equated Monthly Instalments (EMI) of the loan granted by the respondent Bank on credit card - he services...

  15. The Assessing Officer (AO) made additions u/ss 69C and 68 for undisclosed credit card expenditures in foreign currencies based on material found during a survey. The...

 

Quick Updates:Latest Updates