Trigger in Bad debts write off claims
Any bad debt write allowance come with a trigger. By the tax case reported at (2017) 54ITR (Trib) (SN) 8…
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Wrong reopening ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Substantial Leasehold improvements qua extensive Renovation expenditure of 47 crores
In [2022] 93 ITR (Trib) 1 (ITAT[Del]) ( dominos and dunkin donuts chain of stores) one of the ground pertained…
......Read MoreDepartment cannot effect change in method of accounting adopted by taxpayer consistently
In the case of real estate developer in [2022] 19 ITR-OL 33 (Kar) the AO replaced the computation of profits…
......Read MoreAuto component industry – product perfection/ development expenses held revenue
The taxpayer in[2020] 16 ITR-OL 468 (Mad) made claim for deduction of large expenditure totalling 11 crores on perfecting the…
......Read MoreCapital subsidy/capital receipt and MAT
Vide (2021] 92 ITR (Trib) 599 (ITAT[Gau]) a capital subsidy is also held to be exempt from mat. In…
......Read MorePublicity and business promotion expenditure
Publicity and business promotion are two aspects in any kind of business which are outside the bounds of the AO…
......Read MoreBad debts vs provision for bad and doubtful debts
Income tax law has Explanation 1 to section 36 (1) (vii) by which any bad debt or part thereof written…
......Read MoreAdvances/loans write offs
Reading out conditions in grant of deduction for bad debts the Bombay High court in (2021) 439ITR 399 found that…
......Read MoreEducation cess deduction
The Delhi bench in (2021] 92 ITR (Trib) 434 following decisions of the coordinate benches in different regions like delhi…
......Read MoreRule for estimated addition
Income tax assessment is a highly subjective process yet very technical. A small error on either side can go adverse…
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