Tag Archives: Section 40(a)(i)

ITAT bound by non-jurisdiction High Courts decisions also

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)

Section 40(a)(ia) of Income Tax Act 1961 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 any sum on which tax is deductible at… Read More »

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

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 »