Genuineness of expenses - purchase of diesel and oil - the ...

Diesel and Oil Expense Claims Cut by 50% Due to Lack of Separate Ledgers for In-House and Subcontractor Use.

October 26, 2019

Case Laws Income Tax AT

Genuineness of expenses - purchase of diesel and oil - the in-house consumption of diesel and oil cannot be neglected. But the fact that the assessee has not maintained separate ledgers for the in-house consumption of the diesel and oil viz a viz supplied to the subcontractors cannot be ignored - 50% of expenses allowed.

View Source

← Previous Next →

Genuineness of expenses - purchase of diesel and oil - the ...

Diesel and Oil Expense Claims Cut by 50% Due to Lack of Separate Ledgers for In-House and Subcontractor Use.

October 26, 2019

Case Laws Income Tax AT

You may also like:

Classification of imported goods - High Speed Diesel or goods just in the form of base oil - The Bio-Diesel shown to have been manufactured was cleared under the...

The assessee claimed exemption/deduction u/s 54F on account of investing long-term capital gains in a new residential house. The PCIT disallowed the claim, considering...

Deduction claimed u/s 54 - oint owners of the house property having 50% right, title and interest over the property - Since the assessee and her son have jointly...

The expenses incurred towards municipal taxes, maintenance, and repairs of guest-house could not be allowed as a deduction, following the Supreme Court's decision in...

Undisclosed overseas deposits - We keep in mind all these peculiar facts and circumstances more particularly the fact that such religion congregations indeed involve day...

Denial of Exemption u/s. 11 - non maintaining of separate ledger accounts - assessee is maintaining separate ledger for earning this income and also maintaining separate...

Assessment u/s 153C - disallowance made u/s 37. Assessing Officer observed no supporting evidence for claimed expenses furnished by assessee and non-cooperation during...

Assessee's claims for foreign travel expenses, physical fitness expenses, personal expenses, security charges, and swimming pool charges were partially disallowed due to...

Research and Development expenses (R&D Expenses) - Allowability of expenses u/s 35(2) - The expenses are not covered u/s 35(2) - The assessee has not claimed the same...

Penalty u/s 271(1)(c) - The Appellate Tribunal observed that the appellant, during reassessment proceedings, had filed their return of income but failed to provide...

ITAT ruled AMP expenses did not constitute international transaction under Section 92B, as Revenue failed to establish existence of arrangement between assessee and AE...

Disallowance being 50% of Foreign Travelling Expenses - the lower authorities has admitted the genuineness of the expenses to the tune of 50% and the balance was...

This notification Issued by CBIC amends the tariff values for certain imported goods effective November 30, 2024, u/s 14(2) of the Customs Act, 1962. The key amendments...

Depreciation on glow sign boards and oxygen gas cylinders was rejected by the Assessing Officer, holding that the transaction on the last day of the accounting year...

Rectification u/s 154 - claim the allowance of 50% of the expenses against the commission income - Since the assessee has himself not pressed the issue as to...

Quick Updates: