Tag: disallowance u/s 43B
NFAC is bound by binding decision of Jurisdictional High Court when AO is situated within territorial and subjective jurisdiction of High court. ITAT urges CBDT to recall all such orders This decision of the ITAT covered four appeals filed by the assessees, feeling aggrieved by the order passed …
Payment by employer of employee contribution after due date to be disallowed Clause (24) of section 2 of the Income Tax Act provides an inclusive definition of the income. Sub-clause (x) to the said clause provide that income to include any sum received by the assessee from his …
TDS deposited before filing ITR is allowable u/s 43B despite assessee following cash method of accounting ABCAUS Case Law Citation:ABCAUS 3249 (2020) (02) ITAT Important case law relied upon by the parties:Associated Law Advisers Vs. ACITCommissioner of Income Tax XIII Vs. Naresh KumarCommissioner of Income Tax Vs. Rajinder …
Unutilised MODVAT credit of Excise Duty not allowable u/s 43B. Paying cost of raw materials does not mean that assessee is liable to pay Excise Duty on such raw material/inputs ABCAUS Case Law Citation:ABCAUS 3247 (2020) (02) SC Important case law relied upon by the parties:Eicher Motors Ltd. and another versus Union of India and …
Under mercantile system of accounting interest payable is equal to paid. ITAT deleted disallowance on the ground that interest was not paid during the year ABCAUS Case Law Citation:ABCAUS 3218 (2019) (01) ITAT Important case law relied upon by the parties:Taparia Tools Ltd. vs. JCIT Nasik In the …
No disallowance u/s 43B for unpaid service tax unless actually received. Supreme Court dismisses the SLP of the Income Tax Department ABCAUS Case Law Citation: ABCAUS 2827 (2019) (03) SC Important Case Laws Cited/relied upon by the parties Commissioner of IncomeTax v. Ovira Logistics P. Ltd 377 ITR …
No disallowance u/s 43B when unpaid custom duty was included in the value of the closing stock – Supreme Court dismissed SLP of the Department ABCAUS Case Law Citation: ABCAUS 2776 (2019) (02) SC The Assessing Officer (AO) had made a disallowance u/s 43B of the Income Tax …
Statutory liability accrues on issuance of demand notice-ITAT deleted disallowance u/s 43B and allowed payment of Local Body Tax in the year of payment ABCAUS Case Law Citation: ABCAUS 2726 (2019) (01) ITAT The Assessee hand challenged the order passed by the CIT(A) in confirming the disallowance made …
