S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Capital or revenue-Assets and liabilities of subsidiary absorbed by holding company-Written off-Advance for purchase of tools-Not assessable as business income. [S. 28(iv)]
S. 40A(9) : Expenses or payments not deductible-Bonus to employees-Employees welfare fund-Voluntary retirement Scheme-Allowable as deduction. [S. 10(10C), 37(1)]
S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Most of payments made on Saturday/Sunday-Payments covered u/r. 6DD-Outside the scope of section 40A(3). [R. 6DD]
S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Expenditure not debited to profit and loss account-Disallowance cannot be made.
S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Land dealing-Stock in trade-Cash payment was not claimed as expenditure-Disallowance is not justified. [R. 6DD]
S. 40A(3) :Expenses or payments not deductible-Cash payments exceeding prescribed limits-Agricultural produce-Payments for purchases of sugarcane-Not disallowable. [R. 6DD(e)
S. 40A(2)(b) : Expenses or payments not deductible-Excessive or unreasonable-Remuneration of directors of Private company-Directors paying taxes at maximum rate-Disallowance of payment in excess of 20 Per Cent. of net Profit not sustainable.
S. 40A(2)(b) : Expenses or payments not deductible-Excessive or unreasonable-Salary to directors and daughter-in-law-Not justified in partly disallowing salary payments.
S. 40A(2) : Expenses or payments not deductible-Excessive or unreasonable-International Transactions-Deduction of tax at source-External commercial borrowing from Foreign Company-Assessee Liable to Deduct Tax on Interest Payment-Grossing up tax deducted portion with interest paid and claiming deduction-Contrary to inter-party agreement and law. [S. 92C]
S. 40A(2) : Expenses or payments not deductible-Excessive or unreasonable-Commission-Allowable as deduction.