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 March 2019 Year 2019 This

Partially rejection of books - assessee incurred the expenses ...

Case Laws     Income Tax

March 30, 2019

Partially rejection of books - assessee incurred the expenses for it’s two activities hence AO cannot reject books partially and if the books of the accounts are rejected then the income from both the sources needs to be estimated and no separate addition for commission payment or u/s 41(1) is called for

View Source

 


 

You may also like:

  1. Disallowance of contingency expenses claimed by the assessee. The Assessing Officer (AO) disallowed the contingency expenses despite acknowledging that the total cost...

  2. Valuation by DVO - addition based on estimated cost disregarding actual cost as per books - applicability of section 142A before amendment - non-rejection of books - AO...

  3. Disallowance of tour and travel expenses - no details were forthcoming from the assessee to substantiate these travel and conveyance expenses and justify that these...

  4. Disallowance on account of depreciation claimed on the cost incurred in relation to the land being non depreciable asset - To our understanding, the impugned expenses...

  5. Unexplained expenditure - certain entries were found unmatched / not accounted for in the books of accounts in the expense ledger of the assessee - The assessee...

  6. TP Adjustment - Recovery of expenses represent expenses incurred by the assessee company on behalf of AE towards Bid bond expenses. These expenses were also recovered by...

  7. Disallowance u/s 37(1) - payments of expenditure by way of cash - Assessee has incurred 90% of expenses by way of cheque, meaning thereby, in case of business necessity...

  8. Deduction u/s 10A - Adhoc disallowance of professional expenses, electricity charges and miscellaneous expenses - It is not in dispute that the aforesaid administrative...

  9. Addition of Building maintenance expenses - assessee is carrying on sub-letting activity on the buildings taken on rent. Hence the expenses incurred on building should...

  10. Rental income correctly classified as "income from house property" rather than "income from business" despite composite rent including amenities charges. TDS deducted...

  11. Ad hoc disallowance of 10% of expenses - Since the AO or the Ld. CIT(A) has not rejected the books of account of the assessee they could not have estimated (ad hoc...

  12. Deduction u/s 80 IB (10) - allowable expenses to project - Since all the administrative expenses cannot be linked to the activities reasonably, it can be allocated...

  13. Ad-hoc disallowances of the expenses - the expenses claimed for the purpose of the business cannot be disallowed merely on the reasoning that these expenses were...

  14. Rejection of books of accounts - rejection of books of account by invoking the provisions of section 145(3) - the AO has categorically noted in the assessment order...

  15. Deemed income from house property - farm house - whether land was used for the agriculture/horticulture business and hence, it shall be treated as an exempted income u/s...

 

Quick Updates:Latest Updates