Tag Archives: Section 40(a)(i)

ITAT bound by non-jurisdiction High Courts decisions also

By | July 5, 2016

IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR I.T.A. No.: 106/RPR/2016 Assessment year: 2010-11 R K P Company ………….…………….Appellant Vs. Income Tax Officer Ward 1, Korba ……..….…….…Respondent S. 40(a)(ia): When there are conflicting judgements of non-jurisdiction High Courts, the Tribunal is not permitted to choose based on its perception of what the correct law… Read More »

Disallowance of expenses for non deduction of TDS : Section 40(a)

By | May 28, 2016

Section 40(a)(ia) of Income Tax Act 1961 Disallowance of expenses for non deduction of TDS BUY Analysis of Section 40(a)(ia) relating to Disallowance of expenses for non deduction of TDS 30%  disallowance of expenses for non deduction of TDS  under Section 40(a)(ia) This 30% disallowance of expenses for non deduction of TDS  under Section 40(a)(ia) of… Read More »

Provisions of section 40(a)(i) are not attracted on Depreciation

By | December 11, 2015

Facts of the Case are During assessment proceedings, the A.O. noticed that the assessee purchased “Foster’s Brand” and “Intellectual Property”, “Foster’s Brewing Intellectual Property” and Foster’s Trademarks from Foster’s Australia Ltd. for a consideration of Rs. 157,92,00,000/-. The assessee capitalized the said amount in its fixed assets schedule under the head “Trade Marks/Brands” and claimed… Read More »

section 40(a)(i) No TDS Disallowance if Expenses Capitalised

By | August 29, 2015

Q : Whether the Expenses capitalized  in the books of account and on which no TDS has been deducted can be disallowed under section 40(a)(i)? The provisions of section 40(a) is only an additional measure to enforce the compliance of Chapter XVII-B, by disallowing an expenditure which is otherwise allowable under the provisions of the Act.… Read More »

TDS on Provision for Expenses

By | August 23, 2015

TDS on Provision for Expenses Q : Whether there is TDS on Provision for Expenses created in the books ? For TDS on Provision for Expenses we have to read Section 190, with sections 4, 40(a)(i), 40(a)(ia) and 201, of the Income-tax Act, 1961 Subject : Deduction of tax at source /Suspense acccount Assessment years 2006-07… Read More »