Claim of deduction u/s 57(iii) - activities undertaken by the ...

Case Laws Income Tax

March 7, 2018

Claim of deduction u/s 57(iii) - activities undertaken by the assessee club - entrance fee receipt - assessee is not eligible to claim any deduction u/s 57(iii) of the Act over and above the deduction earlier allowed by the Tribunal in assessee's own case to the extent of 7.5%. - AT

View Source

← Previous Next →

Claim of deduction u/s 57(iii) - activities undertaken by the ...

Case Laws Income Tax

March 7, 2018

You may also like:

Deduction u/s 80IA - AO held that the assessee maintained consolidated figure of power generation unit and no separate and independent books of account was maintained by...

Disallowance of interest expense - interest expense not attributable to the business shown u/s 44AD - claiming separate deduction under section 57(iii) - As abundantly...

The assessee claimed deduction of brokerage expenses u/s 57(iii) against income from other sources. The Assessing Officer disallowed part of the expenses in proportion...

Disallowance of membership fee paid to club u/s. 37 - unless assessee demonstrate with relevant evidences that subscription fee paid to club, is for the purpose of...

Claim of legal expenses u/s 57(iii) against interest income - expenditure for recovering FD and interest - direct nexus - the award of interest is only by the specific...

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...

Allowability of deduction of interest expenditure u/s 57 - The provisions of section 57(iii) of the Act categorically provide for allowability of deduction of interest...

Deduction u/s 57(iii) - As long as the purpose of incurring expenditure is to earn income, the expenditure would have to be allowed as a deduction under Section 57(iii)...

Deduction of expenditure from income taxable under the head "From Other Sources" - Car Lease rental income - A plain reading of section 57 (iii) of the Act would lead...

Deduction u/s 36(1)(iii) or 57(iii) - interest paid by the assessee on borrowed capital to the extent it was utilised for purchasing shares - The Tribunal was not...

Whether the expenditure regarding club membership and entrance fee is revenue in nature or capital – Deduction u/s 37 of the Income Tax Act - Held as revenue in nature - AT

Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

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...

The Income Tax Appellate Tribunal considered whether an assessee can claim deduction under Chapter VI-A of the Income Tax Act, 1961 for the first time in the return...

Excess work in progress detected during survey was accepted by assessee as income u/s 69B, taxable at 30%. Assessee claimed such income as part of closing stock to be...

Quick Updates: