Periphery Development Expenses - Disallowance of expenses as ...

Court Upholds Periphery Development Expenses for Mining Company; Assessing Officer's Objection Overruled by Appellate Authority.

June 15, 2022

Case Laws Income Tax AT

Periphery Development Expenses - Disallowance of expenses as only objection raised by the ld. AO is that some of the expenditure debited by the assessee cannot be termed as exclusively for the purpose of the business - The expenditures have been incurred under the guidance of District Periphery Development Committee as well as Periphery Development Society. - the ld. 1st Appellate Authority has appreciated the nature of the business, i.e. mining of Iron Ore, vis-à-vis incurrence of these expenditures - the additions were rightly deleted - AT

View Source

← Previous Next →

Periphery Development Expenses - Disallowance of expenses as ...

Court Upholds Periphery Development Expenses for Mining Company; Assessing Officer's Objection Overruled by Appellate Authority.

June 15, 2022

Case Laws Income Tax AT

You may also like:

The assessee, a company engaged in development/construction and sale of flats and plots, had classified its properties into four categories: flats open for sale, let-out...

Deduction claimed u/s 57 against income returned u/s 56 - manner of apportioning assessee's expenses to earning income u/s 56 disputed - Revenue authorities rejecting...

The Appellate Tribunal considered the disallowance of club expenses to determine if they were incurred for business purposes. It held that the Assessing Officer's...

Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

Assessing Officer's exclusion of sum pertaining to investments outside India from depreciation on investment provision was upheld. High Court correctly held that...

Penalty u/s 270A was imposed by disallowing 30% of indexed cost of development expenses concerning Long Term Capital Gain offered by the assessee due to failure to...

Transfer pricing adjustment on export commission paid to related party disallowed based on assessee's own case demonstrating benefits and higher profitability. Royalty...

The High Court held that for levying penalty u/s 271D for violation of Section 269SS, the Assessing Officer must record satisfaction that the provisions were violated....

The High Court held that the Assessing Officer cannot reopen the assessment u/s 147 merely based on a change of opinion. The assessee had fully and truly disclosed all...

Validity of order passed u/s 144B - disregarding the stay granted by this court - In the assessment order, the Assessing Officer is referring to a letter stating that...

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...

CIT(A) restricted addition on account of accommodation entries to 15% instead of 100%, as the Assessing Officer failed to establish that work was not actually performed....

Regarding the disallowance of late deposit of ESI/PF u/s 36(1)(va), following the Supreme Court's ratio in Checkmate Services, the ITAT allowed the Revenue's ground and...

Disallowance of Development/improvement expenses - payment to related parties - Considering the fact that neither the assessee could substantiate with documentary...

Penalty u/s 271(1)(c) - The Appellate Tribunal observed that the appellant, during reassessment proceedings, had filed their return of income but failed to provide...

Quick Updates: