expense is generally the amount paid.
The family day and week allowances and the scholarship allowance totaling P18.84 million were also disallowed
, because they were already deemed integrated into the standardized salary rates.
382 does not define the term "disallowed
," and there are no applicable regulations.
24344(c) is the foreign investment interest offset, which disallows
part of the overall interest deduction that is related to the water's-edge dividends not included in the measure of tax under Sec.
an S corporation's deductions for expenses of providing corporate aircraft for personal use by shareholders or employees, where these expenses exceed the value of flights included in these individuals' incomes under the methodology prescribed by Regs.
"Nobody knows why it was disallowed
," said Benitez afterwards.
If Congress enacted the proposal to disallow
deductions for the cost of compensatory damages under certain environmental laws, it would create an artificial distinction in the tax law for certain types of costs associated with the manufacture and distribution of products.
tax return to avoid the possibility of being disallowed
deductions if later it was determined that they should have filed.
The government acknowledged, however, that losses attributable to overpaying for the stock or a decline in the value of a subsidiary's built-in gain assets should not be disallowed
. Comments were invited on how such "economic losses" might be allowed without imposing heavy administrative burdens.
66.The provision was broadened to provide (1) criteria under which the IRS may disallow
the benefits of community property law to a spouse, and (2) additional circumstances under which a spouse might otherwise seek relief from the operation of the community property law, even if Sec.