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 December 2017 Year 2017 This

Mere entry in the books of accounts and classifying the said ...

Case Laws     Income Tax

December 25, 2017

Mere entry in the books of accounts and classifying the said payment as capital, i.e., it has been capitalised in the books will not at all be determinative as it has to be seen on the facts whether such a payment or expenditure falls in the capital filed or revenue field. - AT

View Source

 


 

You may also like:

  1. Addition u/s 68 - accommodation entry - issue of shares for consideration other than 'cash' - "Adjustment by way of book entry" can only be in the case where there is...

  2. Addition u/s 68 - non maintenance of books of accounts - There was no actual credit of cash or otherwise received by the assessee. No entries are made in the books of...

  3. Depreciation - Disallowance of amount released from reserves account under normal computation of income - The net result of the accounting entries passed in the books of...

  4. MAT computation - Disallowances on account of loss on revaluation of fixed assets - The expression 'income defined under Section 2(24) of the Act does not include such...

  5. Assessment u/s 153A - Unexplained investment - It is common practice during search proceedings that the revenue seizes the books of account along with incriminating...

  6. The appellant firm had purchased lands for business purposes but did not carry out any business activities on those lands. The firm transferred the amounts pertaining to...

  7. Addition on account of deposit of cash during the demonetization period - allegation of sham transactions - the AO has acted on mere surmise and conjectures without duly...

  8. Rejection of books of accounts - Estimation of income @ 2% of gross sales – mere selling of goods at low margin cannot be made the reason for rejection of books of accounts - AT

  9. Rejection of books of accounts - Estimation of income - bogus purchases - Mere certain discrepancy at the entry gate cannot be a basis of rejection of entire books...

  10. Unexplained bank deposit u/s 68 - bank passbook - After the introduction of the definition of the books or books of account u/s 2 (12A), the passbook can also be...

  11. Accrual of income - determination of income out of the receipt not disclosed in the books of account - when the receipts were out of the books of accounts, the payment...

  12. Disallowance of contingency expenses claimed by the assessee. The Assessing Officer (AO) disallowed the contingency expenses despite acknowledging that the total cost...

  13. Addition made on account of excess wastage - rejection of books and accounts - order of the Tribunal rather is not based on any sound parameters and runs contrary to the...

  14. Penalty u/s 271A and u/s 271B - not maintaining books of account and for not getting the booking of account audited as provided u/s 44AB - Penalties levied u/s 271A for...

  15. Rejection of books of accounts - best judgement assessment - only objection raised by the AO is non-filing of the tax audit report - CIT- A deleting the addition -...

 

Quick Updates:Latest Updates