Adhoc disallowance of the expenditure - Whether expenses were ...

Court Upholds Adhoc Disallowance of Expenses; Assessee Fails to Prove Business Exclusivity or Error in Findings.

October 9, 2020

Case Laws Income Tax HC

Adhoc disallowance of the expenditure - Whether expenses were wholly and exclusively incurred for the business of the appellant? - Assessee was unable to point out any perversity in the findings of fact, which has been recorded by the AO, CIT (Appeals) as well as the Tribunal. It is pertinent to mention her that even in the substantial questions of law no perversity has been averred. - HC

View Source

← Previous Next →

Adhoc disallowance of the expenditure - Whether expenses were ...

Court Upholds Adhoc Disallowance of Expenses; Assessee Fails to Prove Business Exclusivity or Error in Findings.

October 9, 2020

Case Laws Income Tax HC

You may also like:

The ITAT partly allowed the assessee's appeal. Travel expenses were partly disallowed by 30% considering personal element, while 70% were allowed as business expenses...

In a case concerning unexplained credit u/s 68, the assessee proved the identity and genuineness of share applicants, although their creditworthiness was questioned. The...

ITAT ruled against disallowance of transportation expenses, finding the Assessing Officer failed to establish statutory grounds u/s 37 for rejection. The tribunal...

Addition being 10 percent out of various expenses - books of assessee are duly audited under section 44AB of the Act - The Appellate Tribunal upheld the arguments...

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...

Disallowance of various expenses on ad hoc basis - While scrutinizing the expenditure if the expenses claimed are not having any nexus to the business of the assessee or...

Deduction u/s 35(2AB) for in-house Research and Development (R&D) expenses was disallowed as the assessee failed to properly explain the basis of claim and reconcile the...

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

Disallowance of commission paid to foreign agents - The Tribunal upheld the disallowance of commission expenses to both domestic and non-resident companies due to the...

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

Disallowance of business promotion expenses - ad-hock disallowane @ 30% - no enquiry whatsoever from the parties to whom the said expenses were paid by the assessee - no...

HC held that client assistant charges paid to ICICI Bank Ltd constitute legitimate business expenditure. The court rejected revenue's disallowance of expenses, finding...

This is a case concerning the disallowance of certain expenses termed as "route expenses" by the Assessing Officer (AO) due to lack of proper supporting vouchers. The...

The assessee failed to substantiate the provision made for freight, material handling charges, and IT support expenses as an allowable expenditure. The assessee merely...

The ITAT Indore addressed various issues in the case. Firstly, it ruled that interest on outstanding GST is allowable as a business expenditure, not a penalty, and...

Quick Updates: