Disallowance towards mobilization of advances claimed by the ...

Case Laws Income Tax

March 27, 2018

Disallowance towards mobilization of advances claimed by the assessee as sub-contract expenditure - no corresponding bills were raised against the assessee. In such circumstances, it is not possible to hold that the assessee actually incurred expenditure wholly and exclusively for the purpose of business - AT

View Source

← Previous Next →

Disallowance towards mobilization of advances claimed by the ...

Case Laws Income Tax

March 27, 2018

You may also like:

Levy of GST - time of supply - Mobilization Advance received - On reading the Receipt voucher no RTGS 223033 dated 8-2-21, the recipient deducted TDS under Section 51...

Allowability of Interest on mobilization advance - amount was received for the execution of work contract - once the said amount was utilized for the execution of the...

Revenue recognition based on Accounting Standard (AS) 7 for advance received from customers under contracts - assessee followed Percentage Completion Method (PCM)...

Disallowance of loss from derivative business – assessee, having lack of knowledge about the contract note, did not desire for the contract note from sub-broker -...

Valuation - works contract composition scheme - inclusion of advance termed as mobilisation advance from their customer - matter remanded back - AT

Disallowance of interest u/s 36(1)(iii) - The AO had disallowed the interest claimed by the assessee on advances made to its Director, citing a lack of nexus between the...

TP adjustment of interest - CIT(A) confirmed upward adjustment towards interest by adopting rupee loan rate instead of LIBOR linked rate in respect of foreign currency...

Estimating the income of the assessee @ 8% on the sub-contract turnover - On verifying the paper book of the assessee running to 32 pages, we do not find any concrete...

Once it is established that the concerned sub-contract work was actually done or executed and this fact was accepted even by the A.O. by allowing partly the sub-contract...

Revision u/s 263 - Bogus expenditure towards sub-contract payments made to persons who were previously employed in the assessee’s company as supervisors / garage...

Disallowance u/s. 14A r.w. Rule 8D - Mandation of recording satisfaction- We find that the AO had after exhaustively dealing with the contention advanced by the assessee...

Financial Debt or Operational Debt? - mobilization advance given by the Appellant to the Corporate Debtor - Mobilization advance was not disbursed against the...

Accrual of Service Tax liability - ‘mobilization advance’ paid to the appellant - payment to be made on which stage? - on receipt or on issue of the bill? - There is no...

Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

Addition u/s. 40(a)(ia) - assessee's failure to deduct TDS on Labour Contract Expenses - Sub-contractor No. 4 & 5 have not filed their return of income, so there is no...

Quick Updates: