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 April 2023 Year 2023 This

Disallowance of guarantee commission - in case the assessee has ...


Assessing Officer Must Allow Expenses for Guarantee Commission in Specific Assessment Years.

April 4, 2023

Case Laws     Income Tax     AT

Disallowance of guarantee commission - in case the assessee has incurred expenses towards payment of guarantee commission as proposed pertaining to the relevant assessment years, the AO is required to allow the expenses - AT

View Source

 


 

You may also like:

  1. 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...

  2. The assessment years beyond six years but not exceeding ten years can be reopened u/s 153A only if the Assessing Officer possesses evidence depicting escapement of...

  3. Depreciation u/s 32 on non compete fee - For the assessment year 2003-04, the CIT(A) allowed it and the Assessing Officer gave effect to the order passed by the CIT(A)....

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

  5. The Appellate Tribunal held that the assessment orders issued u/s 153C for the assessment years 2011-12 and 2012-13 were beyond the jurisdiction of the Assessing Officer...

  6. Validity of reassessment proceedings u/s 147, the requirement of fresh tangible material for reopening assessment, and the disallowance of expenditure incurred on DAP,...

  7. The case pertains to the denial of exemption u/s 11 of the Income Tax Act to an assessee society, questioning whether its activities qualify as charitable or commercial....

  8. Assessment u/s 153C versus 143 - Additions u/s 45 - Underreporting of sale consideration for immovable property while framing the Assessment Order u/s 143(3) - Whether...

  9. Credit of TDS can be granted only when income corresponding to such TDS is assessed to tax in the same financial year. Assessee has the liberty to approach the Assessing...

  10. Disallowance being commission paid to Directors - expenses were incurred in accordance with the provisions of Companies Act. - The commission expenses were paid by...

  11. Reopening of assessment u/s 147 - Once a query has been raised by Assessing Officer through the assessment proceeding and the assessee has responded to that query, it...

  12. 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...

  13. The Income Tax Appellate Tribunal examined the validity of assessments made u/s 153C, considering the gap between the satisfaction note recorded by the Assessing Officer...

  14. The assessee's claim for deduction u/s 80IC for the finished products manufactured at Unit No. III at Paonta Sahib, Himachal Pradesh, was initially allowed but later...

  15. 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...

 

Quick Updates:Latest Updates