business income
This query is : Resolved
08 October 2008
Q. Whether in an assessment to which presuptive taxation u/s 44AD of Income Tac Act Applies, can AO make addition to income on the basis of admissions made by Assessee in Survey proceedings.
Q. A Practiicng CA go to USA for doing MBA, and he claimed the expenses on trip to USA as well as Expenes on stuides as deduction against his income from Profession. AO disallowed the above expenditure on the ground that MBA was altogether a new qualification, which had no connection with the profession of CA. Discuss
Q. A Practiicng CA go to USA for doing MBA, and he claimed the expenses on trip to USA as well as Expenes on stuides as deduction against his income from Profession. AO disallowed the above expenditure on the ground that MBA was altogether a new qualification, which had no connection with the profession of CA. Discuss
09 October 2008
it is allowable exp. you will read case law of ITO Vs.APURVA(P)PATEL(2006)7 SOT 755(MUM-TRIB) IT IS ALLOWABLE EXP
11 October 2008
Regarding question-1, I think, depends on the findings during survey.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
