Disallowance of expenses - failure to disclose the income - It ...

Case Laws Income Tax

February 1, 2020

Disallowance of expenses - failure to disclose the income - It is true that assessee has not shown the business receipts and income under the head business income but this reason alone cannot preclude to assessee for claiming incidental expenses incurred for carrying out business.

View Source

← Previous Next →

Disallowance of expenses - failure to disclose the income - It ...

Case Laws Income Tax

February 1, 2020

You may also like:

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

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

Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

Disallowance of the expenses claimed on account of employees benefit expenses - AO making the disallowance on the ground that assessee has claimed the expenses basically...

Treating additional income earned on sale of shops as income u/s.69A - whether undisclosed income is “business income” or “income from other sources” - As per the...

Mere disallowance of expenses u/s 40A(3) would not invite penalty for concealing or furnishing inaccurate particulars of income. Assessee disclosed all particulars...

Disallowance of legal expenses - The fact remains undisputed before us that the assessee has not done any business activities during the year and that there is no...

Revision u/s 263 by CIT - rental income which had been shown as “Income from Business & Profession” rather than showing the same as “Income from House Property” - once...

Denial of claim of loss or to categorize certain expenses as pre-operative expenses - commencement of business during the year - assessee’s business was ‘set up’ or not...

Assessee's appeal allowed regarding disallowance of interest u/s 14A as its own funds exceeded investments yielding exempt income. CIT(A) rightly deleted disallowance of...

Business income v/s undisclosed income - If the assessee had shown income u/s.44AD which is presumptive basis for taxation and looking to the nature of bank account...

Disallowance of expenses claimed by the assessee as business expenses - Addition made as assessee had no business - in a given situation where the issue of...

Rejection of application for settlement of the Case - full and true disclosure of the income - the manner in which such income has been derived - Section 245(C) of the...

Additional income offered on account of excess stock during the course of survey - business income of the assessee OR income from other sources liable to be taxed at a...

Characterization of receipts - Treatment of interest income from staff loans and advances, interest income from other loans and advances and miscellaneous income -...

Quick Updates: