#Section 40A(2)(b)
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93 articlesIncome Tax
Income Tax
Expenditure towards ESOP is allowable deduction u/s 37
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Disallowance invoking section 40A(2)(b) unsustainable as hire charges paid not proved as unreasonable and excessive
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Profit margin forgone by assessee could not be held as expenditure for creating intangible or goodwill
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Section 40A(2)(b) Disallowance not valid if AO not formed opinion on excessive or unreasonable deduction
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Income Tax
No Section 40(a)(ia) Disallowance for TDS shortfall due to difference of opinion
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Interest rate on unsecured loan cannot be compared with interest rate on bank loan
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Expense cannot be denied under section 40(A)(2)(b) on surmises & conjectures
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Disallowance of Excess Remuneration to Directors: Section 40A(2)(b) cannot be invoked without corroborative evidence
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Income Tax
In Revision proceedings CIT cannot travel beyond reasons given by him in SCN
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Section 263 Revision order cannot be passed on ground not forming part of CIT Notice
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Section 40A(2)(b) not applies to loan given at lower interest rate for business purpose to related parties
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Income Tax
Disallowance u/s 40(a)(ia), 40A & 43B vis a vis income declared u/s 44AD & 44ADA & 44E
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Income Tax
Section 40A(2)(b) not invocable for Expense on Land purchase from directors based on prudent commercial decision
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Income Tax
