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 June 2018 Year 2018 This

Genuineness of expenditure - Additions made on carriage inward ...

Case Laws     Income Tax

June 14, 2018

Genuineness of expenditure - Additions made on carriage inward charges / loading unloading expenditure - Cash payments - allegation of split of transactions artificially - a lump sum disallowance @ 6% instead of 15% under challenge would be just and proper.

View Source

 


 

You may also like:

  1. Asset management company - making any addition on account of load is not justified - AT

  2. Disallowance of making charges - If the making charges rate as determined by the Revenue at Rs.3/- per gram has to be considered, the aforesaid karigar’s net profit...

  3. Disallowance of Payment Labour Charges - addition made as payment is supported by self-made vouchers and have no signature of recipients - The Tribunal, based on a...

  4. 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...

  5. Addition made u/s 69C - Unexplained huge expenditure to earn Agriculture income - once the assessee has not made any investment, the addition made u/s 69C of the Act is illegal.

  6. Genuineness of expenditure - CIT(A) deleted the additions - CIT(A) went into detail to evaluate the identity of commission recipient and genuineness of expenditure of...

  7. Reopening of assessment u/s 147 - AO himself did not make addition in respect of the first part of the items of reason recorded - The addition made by the AO on the...

  8. Disallowing of Peak load violation charges paid to PSEB - nature of expenditure - assessee failed to prove that the claim was not penal in nature - expenditure was...

  9. Genuineness of expenditure - Before the lower authorities no books of accounts were produced to show the genuineness of the expenses claimed on how the transactions have...

  10. Nature of expenditure - expenditure incurred for development of a new product including knowhow - Thus expenditure incurred by the assessee being technical consultancy...

  11. Addition towards non-existing profits - Tribunal has included the value of goods, loading and unloading charges, railway freight as also the service charges received in...

  12. Punitive charges paid to the Railways - Allowable Revenue expenditure u/s 37 - whether the punitive charges paid to the Railways for alleged violation of the provision...

  13. Additions for non deduction of TDS u/s 194C r.w.s. 40(a)(ia) - The freight inward charges were part and parcel of the purchase of the goods. It is settled law that the...

  14. Addition on account of share premium received by the assessee u/s 56(1) - income from other sources - the addition has been admittedly made by the ld. AO u/s.56(1) of...

  15. Power of CIT(A) in enhancing the addition - violating the law u/s 251(2) - enhancement of addition made u/s. 68 - the assessee had discharged its onus to prove the...

 

Quick Updates:Latest Updates