Disallowance u/s.40A(2)(b) - excess benefit, beyond ...

Section 40A(2)(b) Disallowance: Excess Benefits to Interested Members, Not Applicable to Cooperative Societies.

December 18, 2018

Case Laws Income Tax AT

Disallowance u/s.40A(2)(b) - excess benefit, beyond reasonableness, to the member having substantial interest - provisions of section 40(A)2(b) are not applicable to co-operative society.

View Source

← Previous Next →

Disallowance u/s.40A(2)(b) - excess benefit, beyond ...

Section 40A(2)(b) Disallowance: Excess Benefits to Interested Members, Not Applicable to Cooperative Societies.

December 18, 2018

Case Laws Income Tax AT

You may also like:

Disallowance of interest expenditure by applying provisions of section 40A(2)(b) - Specified / Related parties - Difference between the interest paid by assessee at 15%...

Disallowance of remuneration paid by the assessee to its Working Partner u/s 40A(3) - Cash payment of expenditure in excess of specified limit - Scope of separate...

Excess rent paid to the related party - Disallowance invoking the provision of section 40A(2)(b) - Since this definition provided u/s 56(2) is only for the said clause...

Disallowance u/s. 40A(2) - addition being 50% of the total back office charges paid to group consultant - The Tribunal held that, AO has observed that the assessee may...

Addition u/s 40A(2) - assessee has paid interest to certain related parties and treated interest rate @ 15% reasonable and disallowed excess rate paid to related parties...

Disallowing interest paid on borrowed monies - loan from related persons - Section 40A(2)(b) does not envisage the complete disallowance of expenditure unless it is...

Addition u/s 56(2)(vii) - relevant Section 50C cannot be invoked as the said section is applicable in the case of seller of the property only while the appellant is a...

Various disallowances and additions made by the Assessing Officer (AO) and the Income Tax Appellate Tribunal's (ITAT) decisions on the same. The key points are: 1)...

Addition u/s 40A(2) - disallowance of interest claim of 9% - ITAT has rightly concluded that the provisions like Section 40A are meant to check evasion of tax through...

Disallowance of salary u/s 40A(2)(b) - Payment of salary and interest to specified (related) persons - The provision u/s 40A(2)(a) clearly shows that before recording...

Deduction u/s 80P(2)(a)(i) was denied by the Assessing Officer on grounds that the assessee society cannot be termed a mutual concern and principles of mutuality cannot...

Estimation of Profit/Section 40A(2)(b) - JV entered - sub-contracting - AO had formed a view that the assessee JV had suppressed its profit by making excessive payment...

Applicability of Section 56(2)(x) of the Income Tax Act to the transfer or surrender of tenancy rights. It states that Section 56(2)(x) is a deeming provision akin to...

Deduction u/s 80P(2)(a) (i) - the credits given to such members being for purposes other than agricultural credit - once section 80P(4) is out of harm’s way, all the...

Disallowance of directors remuneration u/s 40A(2)(a) - A.O by misconstruing the scope and gamut of Sec. 40A(2)(a) had disallowed the entire amount of the directors...

Quick Updates: