Bogus expenditure - addition @20% - Since all these expenses are ...

Case Laws Income Tax

November 30, 2019

Bogus expenditure - addition @20% - Since all these expenses are otherwise essential for carrying out the business activity by the assessee, therefore, the claim of the assessee cannot be considered as absolutely bogus or falls - additions restricted to 10% instead of 20%

View Source

← Previous Next →

Bogus expenditure - addition @20% - Since all these expenses are ...

Case Laws Income Tax

November 30, 2019

You may also like:

Nature of expenditure - Allowable business expenditure or personal expenditure - education expenses of the daughter - With the logic advanced by assessee, every...

Allowable as business expenses - Small contributions to local people and institution on request of employees and business associates - Section 37 of the Act contemplates...

Expenditure incurred by subsidiary company for overseeing and executing contracts entered by parent company cannot be considered as business loss of subsidiary....

Disallowance on account of weaving majuri expenses - cash expenditure - in the absence of any finding of the authorities that the expenses are bogus in nature, the...

Disallowance of expenditure claimed under the head "Business" - proof of commencement of business - the generation of actual business income was not an essential element...

The case involves the disallowance of expenditure incurred during business setup. The Appellate Tribunal clarified that setup of business is distinct from commencement...

Allowable business expenses - There is difference between commencement of the business and setting off of the business. All the expenses incurred pre-commencement are to...

Nature of expenses - Litigation expenses - Revenue or capital expenditure - In the present facts, since assessee has no interest in the ownership of the asset but he is...

Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

Addition u/s 40A(3) - Cash expenditure - assessee has made payments to the land owners exceeding INR 20,000/- - The Tribunal agreed with the appellant's argument to some...

The assessee, engaged in the business of shares and securities, claimed administration expenses, including Portfolio Management Service (PMS) expenses, against capital...

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.

Nature of expenditure - expenditure on design charges for T3 Airport construction - There was no enlargement of the permanent structure of which the income would be the...

Disallowance of the claim for Bad Debts written off - Disallowance of settlement expenditure - In the case of bad debts, the Appellate Tribunal (ITAT) partially allowed...

Allowable expenditure u/s 37(1) - addition relating to form fees which was deposited for obtaining the wine shop through government - non-accepting the theory of...

Quick Updates: