Home Highlights May 2018 Year 2018 This

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1. TDS on reimbursement of expenses - The assessee has raised debit note on which there is no profit element - the AO cannot fastened the liabilities of TDS as there is...

2. Valuation - inclusion of reimbursement of expenses - Apparently, there is no reimbursement on actual basis and the exclusion under the category of 'reimbursement...

3. TDS u/s 194C - Non deduction of tds on reimbursement of expenses made to group companies without any markup - In the case of reimbursement of expenses, the expenditure...

4. Valuation - includibility of reimbursement of expenses - C&F Agency Service - various expenses such as rent, postage and stationary, telephone charges etc. - service tax...

5. Provision for warranty expenses computed on basis of past experience and scientific basis is allowable. Assessee applied formula for provision though no past history was...

6. Valuation - inclusion of reimbursement of expenses – Appellant functions as Share Transfer Agent and Registrar to an Issue – Actual expenses incurred for postages and...

7. Service tax - reimbursement of advertisement expenses and other sales promotion expenses - since expenses reimbursed on actual basis for achieving the Sales target,...

8. Disallowance for warranty expenses - assessee is entitled to change the method of accounting with respect to claim of warranty expenses from ‘actual basis’ to ‘provision...

9. TP adjustment on account of reimbursement of seafarer expenses - Revenue has only doubted the genuineness of the alleged reimbursement of expenses made by the assessee...

10. TDS u/s 194C - Addition u/s 40(a)(ia) - if assessee complies with the provision of section 194(6), no disallowance u/s. 40(a)(ia) is permissible even though there is...

11. TDS liability on year end provisions of expenses - Assessee in default u/s 201(1) - non-deduction of TDS on provision for expenses made at the end of the year u/s 194C,...

12. TDS u/s 194J or 194C - disallowance u/s. 40(a)(ia) - Short deduction of TDS - Carriage Fees/Channel Placement fees - the provisions of section u/s.40(a)(ia) of the Act...

13. Expenses Incurred with no income element - Reimbursement of Global Account Management (GAM) charges - These so called expenses without any income element embed in them...

14. The case pertains to the disallowance of a provision for contract losses by the CIT(A) and AO, who erroneously concluded it as an unascertained liability not deductible...

15. Provision for future liabilities (expenses) - whether allowable - mercantile basis of accounting - held yes - HC