Allowability of expenditure on service tax liability - since the ...

Expenditure Disallowed for AY 2016-17 Due to Earlier Payment; Upheld u/s 43B of Income Tax Act.

October 5, 2023

Case Laws Income Tax AT

Allowability of expenditure on service tax liability - since the amount was not paid during the F.Y. 2015-16, but it was actually paid in F.Y.2014-15 and earlier years the AO has rightly disallowed the impugned amount as un-allowable expenditure u/s. 43B of the Act for A.Y.2016-17.Therefore, in these facts and circumstances of the case we agree with the AO and upheld the disallowance. - AT

View Source

← Previous Next →

Allowability of expenditure on service tax liability - since the ...

Expenditure Disallowed for AY 2016-17 Due to Earlier Payment; Upheld u/s 43B of Income Tax Act.

October 5, 2023

Case Laws Income Tax AT

You may also like:

Clarification on delay in filing of Form No.10B for AY 2016-17 and AY 2017-18 - Board's order under section 119(2) of the Income-tax Act, 1961

Accrual of income - real income - since the basis, modality and the amount on which the capacity charges, deemed generation charges and capacity Index Incentives were to...

Revision u/s 263 - There was an error in the assessment order passed by the A.O. in not bringing to tax the interest income in the year under consideration under the...

The ITAT held that the Black Money Act, 2015 would be applicable from AY 2016-17 onwards. Hence, the AO lacked jurisdiction to assess income or levy penalty under the...

Interest u/s 234C - interest for deferment of advance tax - If on a particular due date for payment of advance tax, the facts show that there is no liability to pay...

Order under section 119 of the Income-tax Act, 1961 - Income Declaration Scheme, 2016 - Order-Instruction

Income Tax Act, 1961 as amended by Finance Act, 2016

Prior period expenditure - when prior period income is taxed prior period expenditure cannot be disallowed - AT

Order under section 119 of the Income-tax Act, 1961 in respect of extension of due date for filing of Country-by-Country Report for reporting accounting year 2016-17

The key points are: Undisclosed income declared under the Income Declaration Scheme (IDS) 2016 does not change its character or nature merely due to non-payment of tax...

Demand of GST u/s 74 - Wrongful / excess claim of transitional credit (Tran-1) - Though the appellant has claimed state tax as transitional input tax credit, but there...

Income–tax (15th Amendment) Rules, 2016 - Amendments in Due diligence requirement - Notification

Penalty order u/s. 271B - tax audit report U/s. 44AB - Assessee has wrongly uploaded the Form 3CD by selecting the earlier AY 2016- 17 instead of selecting the AY...

Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

Rectification of mistake u/s 154 - AO accepting the returned income instead of substituting the same with the assessed income - Merely, because the AO has retained the...

Quick Updates: