Income Tax : Summary of Section 40A disallowances, including payments to related parties, cash payments, gratuity provisions, non-statutory fun...
Income Tax : Summary of income-tax rules on cash limits, including disallowance of cash expenditure, restrictions on loans, deposits, receipts,...
Income Tax : Learn if cash payments over ₹10,000 for electricity bills are allowed under Section 40A(3) of Income Tax Act. Understand exempti...
Income Tax : Section 40A(3) restricts cash payments exceeding ₹10,000 in business transactions. Exceptions apply for specific cases like tran...
Income Tax : Explore the rules and regulations governing cash transactions in real estate deals to ensure tax compliance. Learn about permissib...
Income Tax : It is suggested that there should be a positive provision under the I.T. Act that any transaction involving more than Rs.3,00,000/...
Income Tax : ITAT Delhi upheld deletion of disallowance under Section 40A(3) after finding that payments were made to multiple labourers and no...
Income Tax : The Tribunal held that no disallowance under section 36(1)(iii) can be made where loans are advanced from interest-free funds. It ...
Income Tax : The Tribunal held that cash payments for land purchase cannot be disallowed under Section 40A(3) if not claimed as expenditure. Si...
Income Tax : ITAT Bangalore held that year-end expense provisions can attract TDS under the IT Act. The matter was restored for limited verific...
Income Tax : The Tribunal ruled that admission of fresh evidence without AOs examination violated procedural rules. The deletion of ₹2 crore ...
जानें जीएसटी और आयकर एक्ट में नकद संव्यवहार के नियम और प्रावधान। कितनी धनराशि के लिए टैक्स इनवॉइस जारी किया जा सकता है? पढ़ें और समझें।
Calcutta High Court ruling states payments by supervisors to individual labourers, each not exceeding Rs. 20,000, cannot be disallowed under Section 40A(3) of the Income Tax Act.
Analysis of Bharat Jaroli vs PCIT case by ITAT Indore, highlighting AO’s failure to scrutinize cash payments under Sec 40A. Detailed review and outcome provided.
Read the full text of the ITAT Chandigarh’s decision in the case of Manuj Jain HUF Vs PCIT. The assessment order was upheld, rejecting the Section 263 revision regarding demonetization cash deposits.
Explore case of Manipal Hospitals (Dwarka) Pvt Ltd vs. ACIT where ITAT Bangalore ruled that AO cannot make adhoc disallowance under Section 40A(2)
ITAT Delhi rules that no addition shall be made when commission earned from consignment sale of foodgrains is reflected in P&L account. Detailed analysis of ITO Vs Smt. Keshar Devi.
Explore the case of Zheng Yuan Mobiles Pvt. Ltd. vs DCIT at ITAT Delhi. Learn why improper vouchers led to disallowance and how it was overturned.
ITAT Rajkot rules in favor of Conor Granito P. Ltd., setting a justifiable net profit rate on unaccounted sales based on business nature, dismissing Revenue’s appeal for a higher rate.
Discrepancies in KYC docs don’t constitute incriminating material. ITAT cancels income tax addition for Renukamata Multi-State Co-op Society Ltd. vs ACIT.
Explore the Kerala High Court judgment in P.V. Thomas Vs ITO, upholding Income Tax Act Section 40 (3) addition. Detailed analysis and implications for assessment year 2015-2016.
