Excess rent paid to the related party - Disallowance invoking ...

Dispute Over Excess Rent Disallowance Involving Related Parties u/s 40A(2)(b) of Income Tax Act Hinges on "Relative" Definition.

November 30, 2020

Case Laws Income Tax AT

Excess rent paid to the related party - Disallowance invoking the provision of section 40A(2)(b) - Since this definition provided u/s 56(2) is only for the said clause of section 56(2) therefore, the same cannot be applied in respect of provisions of section 40A(2) when a general definition of term “relative” is provided u/s 2(41) of the Act. - AT

View Source

← Previous Next →

Excess rent paid to the related party - Disallowance invoking ...

Dispute Over Excess Rent Disallowance Involving Related Parties u/s 40A(2)(b) of Income Tax Act Hinges on "Relative" Definition.

November 30, 2020

Case Laws Income Tax AT

You may also like:

Disallowance towards Client Maintenance Charges - ‘related party’ - ICICI Bank Ltd. does not fall in the definition of ‘related party’ in terms of Section 40A(2)(b) of...

Addition u/s 40A(2) - assessee has paid interest to certain related parties and treated interest rate @ 15% reasonable and disallowed excess rate paid to related parties...

Addition u/s 40A(2)(b) - disallowance of milk transportation charges paid to specified persons - as per the details, the payment to related parties works out to 62 paise...

CIRP proceedings - Financial Creditors - Related party - while the default rule under the first proviso to Section 21(2) is that only those financial creditors that are...

Addition u/s 40A(2) - Allegation of Excessive price paid to related parties - The provisions of section 40A(2) of the Act applies for making disallowance of expenses for...

This case deals with the disallowance of expenditure u/s 14A of the Income Tax Act, which pertains to expenditure incurred in relation to exempt income. The key points...

Disallowance u/s.40A(2)(b) - excess benefit, beyond reasonableness, to the member having substantial interest - provisions of section 40(A)2(b) are not applicable to...

Disallowances u/s 40A(2)(b) - payment of commission to related party - There is no reasoning given by the ld AO that why the earlier two payment to the same party for...

Disallowance of interest expenditure by applying provisions of section 40A(2)(b) - Specified / Related parties - Difference between the interest paid by assessee at 15%...

Disallowing interest paid on borrowed monies - loan from related persons - Section 40A(2)(b) does not envisage the complete disallowance of expenditure unless it is...

Disallowance made u/s 40A(2)(a) - higher salary paid to Directors - Related party transactions - the concerned directors are assessed to tax at the maximum rate of 30% -...

Disallowance u/s 40A(2)(b) - related party - AO has not brought any comparables from the market to make out that the current payment is excessive and unreasonable within...

CIRP - Relating parties - As on the date of it becoming a part of the CoC, Respondent No. 2 was purely a Financial Creditor of the Corporate Debtor and hence, it cannot...

Doctrine of mutuality - Income generated by Clubs with the Appellate Association - the income in dispute relates to pay and park charges, rent from Vodafone Tower, rent...

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

Quick Updates: