Category: Income Tax
Exemption u/s 10(37) for compulsory acquisition not be denied merely because the sale price was fixed through a negotiated settlement ABCAUS Case Law Citation:ABCAUS 3024 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties:Balakrishnan v. Union of India The instant appeal was filed by the Revenue …
Forfeiture of deposit on account of cancellation of lease allowed as business loss u/s 28 being incidental to regular business carried on by the assessee ABCAUS Case Law Citation: ABCAUS 3023 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. Mysore Sugar Co. Ltd., …
Sale of land situated within 8 KM of local municipality limit. Difference in certificate issued by Tahsiladar and internet details remitted back to AO. ABCAUS Case Law Citation: ABCAUS 3022 (2019) (06) ITAT This appeal of the assessee was directed against the order of the Commissioner of Income …
Central Silk Board Bengaluru income exempted by CBDT for 5 Years from AYs 2019-2020 to 2023-2024. MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 45/2019 New Delhi, the 20th June, 2019 S.O.2005(E).—In exercise of the powers conferred by clause (46) of section 10 of the …
International Sericultural Commission Bengaluru income exempted by CBDT. Specified incomes exempted from assessment year 2014-15 onwards. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 46/2019 New Delhi, the 20th June, 2019 S.O.2006(E).—In exercise of the powers conferred by clause (42) of section 10 …
Non-cultivation of land due to vagaries of nature will not change the character of land from agriculture to non- agricultural land – ITAT allowed exemption u/s 54B ABCAUS Case Law Citation: ABCAUS 3021 (2019) (06) ITAT During the year, the assessee had sold land and claimed deduction under …
Additional depreciation on small items engaged in manufacturing of food products allowed. It cannot be denied for installing items at retail outlets ABCAUS Case Law Citation: ABCAUS 3020 (2019) (06) ITAT The appeal by the assessee was directed against the order passed by the Commissioner of Income-tax (Appeals) …
Assessment of Firms-Some of important issues to be kept under consideration by the Assessing Officers while framing assessment Circular No. 12/2019 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 19th of June, 2019 Subject: ‘Assessment of Firms’ …
Assessee is entitled to claim set-off of loss against income determined under section 115BBE of the Act till the assessment year 2016-17 Circular No. 11 /2019 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, New Delhi, dated the 19th of June, …
Depreciation on intangible assets on conversion of proprietorship into private limited company allowed as the transaction was not considered sham ABCAUS Case Law Citation: ABCAUS 3019 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. Sandvik Chokshi Ltd. 55 taxmann.com 453 (Gujarat) Commonwealth Trust …
