Revision u/s 263 - CIT observed that huge sales promotion ...

Case Laws Income Tax

November 22, 2019

Revision u/s 263 - CIT observed that huge sales promotion expenses has not been looked into deeply. Although a 5% disallowances has been made, but no meaningful verification has been made so as to enquire its genuineness and reason for huge increase in the present year - Revision order sustained.

View Source

← Previous Next →

Revision u/s 263 - CIT observed that huge sales promotion ...

Case Laws Income Tax

November 22, 2019

You may also like:

Sales promotion expenses - expenditure with respect to the gold chains being distributed - expenditure allowed - AT

Addition on account of Business Promotion Expenses - personal element in the business promotion expenses to the extent of 10% of the total expenses cannot be ruled out.

Various issues related to allowability of expenses, deductions, transfer pricing adjustments, and other income tax matters for a pharmaceutical company. Key points are:...

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

Classification of supply - supply of goods or supply of services - sale of plots - As per entry 5 of Schedule III of SGST Act, sale of land and, subject to clause(b) of...

Disallowance of expenditure u/s. 37 - There is merit in the alternative contention of assessee that the expenses incurred on organizing an event to celebrate Ireland...

Revision u/s 263 - The ITAT held that the AO had conducted adequate inquiries into the sales promotion expenses, as evidenced by the issuance of specific queries to the...

Valuation - inclusion in taxable services or not - expense incurred by the agents, namely, travel, conveyance and vehicle running expenses, training expenses, printing...

Validity of revised return 139(5) - Revised return did not conform to the prescription of section 139(5), before its substitution w.e.f. A.Y. 2017-18, which provided for...

Valuation - agreement with dealers for sales promotion - advertisement expenses - the advertisement expenses recovered from the dealers would not be includible in the...

The CESTAT held that the advertisement charges collected by the appellant as reimbursement expense cannot be included in the gross value of franchise service. The...

Revision of assessment after 5 years - period of limitation - section 40 r.w.s. 28 & 31 of HVAT - Revision proceedings must conclude within 5 years from the date of...

CENVAT Credit - input services - sale promotion - commission paid to the various financers for selling their vehicles - The financers are indirectly providing the...

Various doubts related to treatment of sales promotion scheme under GST clarified

Cenvat Credit - sales commission/sales promotion expenses incurred by the appellant is expenditure or input service incurred or received prior to the removal of their...

Quick Updates: