Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights December 2021 Year 2021 This

TP Adjustment - Disallowance of expenditure u/s 40(a)(ia) - any ...

December 28, 2021

Case Laws     Income Tax     AT

TP Adjustment - Disallowance of expenditure u/s 40(a)(ia) - any expenditure not for the purpose of business, the A.O. can certainly re-characterize the same as not allowable expenditure u/s 37 - as mentioned earlier, the A.O. nor DRP has not examined whether the said expenditure is allowable business expenditure u/s 37 - A.O. held that provision disallowed by the assessee u/s 40(a)(ia) of the Act cannot be allowed as deduction in the subsequent assessment year, since, the expenditure does not pertain to the subsequent year. DRP did not adjudicate the issue by observing that there is no variation to the returned income on this count. Therefore, the matter needs to be reconsidered by the AO afresh. - AT

View Source

 


 

You may also like:

  1. Disallowance of expenditure u/s 40(a)(ia) – Whether disallowance of expenditure u/s 40(a)(ia) is ‘eligible profit’ from housing project u/s.80IB(10) - Held Yes - AT

  2. Disallowance of deduction expenditure u/s 40(a)(ia) - adhoc provision - It is ex-facie apparent that the contention of the assessee inasmuch as non-identification of the...

  3. Section 14A disallowance restricted to 2% of exempt income due to inapplicability of Rule 8D for the relevant assessment year. TDS disallowance u/s 40(a)(ia) upheld for...

  4. Disallowance of expenditure incurred on account of LFR - Non deduction of TDS - Disallowance u/s 40(a)(ia) - There can be question of suspecting that the BPCL did not...

  5. TDS u/s 194C - Deduction u/s 40(a)(ia) - the expenditure incurred under the head ‘freight charges’ are not liable for disallowance u/s 40(a)(ia)

  6. Disallowance u/s 40(a)(ia) on payment of salary - TDS u/s 192B - in Section 40(a)(ia), the word “Salary” have not been incorporated - no disallowance

  7. Disallowance of expenditure towards development of property - no supporting bills of expenditure were provided - CIT(A) has allowed on ad hoc basis only 40% of the...

  8. The Appellate Tribunal addressed issues u/s 40(a)(ia)/43B regarding disallowance for provisions made for unfinished work claimed as expenditure. CIT (A) upheld AO's...

  9. TDS u/s 194I or 194IB - Disallowance u/s 40(a)(ia) - TDS was deducted but the section 194IB was mentioned wrongly instead of section 194I(b) - The Tribunal ruled in...

  10. TDS u/s 194A - Disallowance of interest expenses u/s 40(a)(ia) - non deduction of TDS - it is noticed that counsel of the assessee has voluntarily agreed for the...

  11. The Income Tax Appellate Tribunal examined the determination of net profits from contract business, rejection of books of accounts, and addition u/s 40(a)(ia) for...

  12. TDS u/s 194IA - payment for land advance - non-deduction of TDS in violation of Section 40(a)(ia) - the provisions of Section 40(a)(ia) are applicable only to the...

  13. Interest levy u/s 201(1A) - suo-motto disallowances u/s. 40(a)(i)/(ia) - The provision of TDS provisions cannot applicable where there is no claim of expenditure made by...

  14. TDS u/s 40 (a)(ia) - TDS on interest to outgoing partner of the partnership firm - As per provisions of section 40(a)(ia) even if assessee debited expenditure, but same...

  15. Disallowance u/s 40(a)(ia) - Delayed deposit of TDS colected in government exchequer - there cannot be any disallowance on this count. Assessing Officer could not have...

 

Quick Updates:Latest Updates