Addition u/s 40A(2) - unreasonable professional fees to spouse - ...

Case Laws Income Tax

August 28, 2021

Addition u/s 40A(2) - unreasonable professional fees to spouse - AO has not examined any details and has not given any valid reason and no comparable was brought on record and simply rejected the submissions made by the assessee. Therefore, we are of the opinion that the disallowance made by the Assessing Officer under section 40A(2) of the Act is not correct. - AT

View Source

← Previous Next →

Addition u/s 40A(2) - unreasonable professional fees to spouse - ...

Case Laws Income Tax

August 28, 2021

You may also like:

Estimation of Profit/Section 40A(2)(b) - JV entered - sub-contracting - AO had formed a view that the assessee JV had suppressed its profit by making excessive payment...

Revision u/s 263 by CIT - addition u/s 40A ignored by AO - expenses have been incurred in cash exceeding Rs. 20,000/- per day - AO is expected to examine the provisions...

Addition u/s 68 - In the given case, AO has not carried out any useful investigation but merely followed the previous pattern of investigation and completed the...

TP Adjustment - Disallowance on professional fee u/s 40A(2) and alternatively u/s 37 - the A.O. has erred in invoking the provisions of section 40A(2) of the I.T.Act to...

Disallowance u/s 40A(2)(a) – Professional fees paid to the subsidiary company - three situations, warranting disallowance u/s 40A(2), are joined by the word ‘or’ and are...

Addition u/s 40A(2) - disallowance of interest claim of 9% - ITAT has rightly concluded that the provisions like Section 40A are meant to check evasion of tax through...

Addition u/s 40A(2)(b) - payment to the persons specified - the AO estimated the profit of the assessee and determined the income, nowhere he doubted the expenses...

Payment to related person u/s 40A - Addition on account of payment made by the assessee to quantum asset management company by way of research fee - A subsidiary company...

Disallowance of expenditure incurred under Voluntary Retirement Scheme (VRS) - AO has not examined the details as per the directions of the DRP and has made disallowance...

The assessee, a foreign company, earned network transportation fees from its Indian associated enterprise (AE), Damco India Private Limited (DIPL). The Assessing Officer...

Assessee surrendered income during survey u/s 133A as unaccounted professional receipts, which AO accepted as professional income taxable at normal rates. PCIT invoked...

Addition u/s 68 - investment made by the partners - AO has examined 79 unsecured creditors who appeared before the AO and given statements on oath. All of them have...

In the case, ITAT decided on two main issues: 1. Addition on account of Gold and Silver Jewellery u/s 69A: Assessee disclosed Rs. 70,00,000 as unexplained investment...

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...

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...

Quick Updates: