Commission paid to director is allowable business expenditure ...

Director's Commission Allowed as Business Expense Under Sec 36(1)(ii); Weighted Deduction Claim Approved Under Sec 35(2AB.

July 31, 2024

Case Laws Income Tax AT

Commission paid to director is allowable business expenditure u/s 36(1)(ii) as assessee provided substantial evidence demonstrating services rendered and resultant benefits; AO failed to prove payment was made to avoid DDT. Weighted deduction claim u/s 35(2AB) allowed in full; AO cannot solely rely on DSIR report without considering assessee's books of accounts and chartered accountant's certification. Principles of natural justice require providing reasons for reducing claim and opportunity to respond.

View Source

← Previous Next →

Commission paid to director is allowable business expenditure ...

Director's Commission Allowed as Business Expense Under Sec 36(1)(ii); Weighted Deduction Claim Approved Under Sec 35(2AB.

July 31, 2024

Case Laws Income Tax AT

You may also like:

Disallowance u/s 36(1)(ii) for payment of commission - commission paid by the assessee company to Mr. Darayus A. Bathena for sale orders procured by him as a sales agent...

Disallowances of working Director’s commission on profits - Whether eligible as deduction u/s 36(1)(ii)? - the payment of commission to the Director could not have been...

Addition of bonus paid to the directors - disallowance u/s 36(1)(ii) - No extra services have been rendered for payment of commission - Two shareholders director were...

The assessee claimed weighted deduction u/s 35(1)(ii) for donation made to M/s Shri Arvindo Institute of Applied Scientific Research Trust at the end of the year. The...

Addition on commission paid to the Managing Director of the assessee company, u/s 36(1)(ii)- The directors are not only shareholders of the company. Therefore, it cannot...

Disallowance u/s section 36(1)(ii) - payment in lieu of dividend - amount of commission and bonus paid to the Managing Director was an allowable business expenditure - AT

The ITAT partly allowed the assessee's appeal. Travel expenses were partly disallowed by 30% considering personal element, while 70% were allowed as business expenses...

Addition on account of amount paid to Directors of the company as commission and exgratia - allowable expenditure u/s 36(1)(ii) as well as section 37(1) - AO has not...

Personal guarantee furnished to bank for facilitating loan - Tribunal erred in holding that the payments of commission to the Directors fell within the exclusionary limb...

ITAT ruled favorably on multiple issues for the banking assessee. The tribunal allowed deduction under s.36(1)(viia) for NPA provisions, holding them equivalent to...

Expenses incurred by overseas branch – Deduction u/s. 44C has to be given after taking into account deduction u/s. 36(1)(viia) and deduction u/s.36(1)(viia) has to be...

DEDUCTION UNDER SEC.36 (1) (ii) OF INCOME TAX ACT, 1961. - Article

Deduction u/s. 35(1)(ii) - weighted deduction - bogus donation - It is not in dispute that M/s. HHBHRF was enjoying the approval within the meaning of Sec. 35(1)(ii) of...

Deduction allowable u/s 36 (1)(iii) - assessee has not commenced any business activity and no deduction is allowable u/s 36 (1) (iii) in respect of interest expenditure...

Disallowing bonus/commission paid to the directors of the company - so long as the bonus or commission is paid to the directors for services rendered and as part of...

Quick Updates: