Case: The PR Commissioner of Income Tax v. DLF Home Developers, Forum: Supreme Court Background: Supreme Court Dismisses Revenue’s Appeal [SLP(C)] to Disallow brokerage related expenses. Given below is the summary of the case when appealed in Delhi HC for reference along with all the related links. Case: The PR Commissioner of Income Tax v. … Continue reading Whether expenses pertaining to brokerage incurred by a builder can be deductible as expenses?
There are some heads of income which are considered tax-free or exempt for the purposes of the Income Tax Act (“Act”). On the other hand, the Act allows certain expenses incurred exclusively for earning income to be claimed as deductions i.e. these amounts can be deducted from the total income to arrive at the income … Continue reading Disallowance under Section 14A: an Analysis