Judgments

  • Income Tax

Revision u/s 263 ordered for dropping penalty proceedings u/s 271(1)(c) set aside

Revision u/s 263 ordered for dropping penalty proceedings u/s 271(1)(c) set aside as AO took a view by adopting a…

5 years ago
  • Income Tax

Foreign travel expenses on visit to trade fair with tourist visa. Disallowance reduced to 50 %

Foreign travel expenditure on visit to trade fair with tourist visa . ITAT restricted disallowance to 50 per cent in…

5 years ago
  • Income Tax

No Addition as unexplained cash credit if loan creditor deposited cash before issue of cheque

No Addition u/s 68 to be made as unexplained cash credit if loan creditor had deposited cash before issue of…

5 years ago
  • Income Tax

Deemed annual value u/s 23 can not be estimated for old, dilapidated house not habitable

Deemed Annual value of old dilapidated house not habitable set aside for verification as deemed provision u/s 23 not applicable…

5 years ago
  • Income Tax

Exemption u/s 10(37) can not be denied merely because sale price was negotiated

Exemption u/s 10(37) for compulsory acquisition not be denied merely because the sale price was fixed through a negotiated settlement…

5 years ago
  • Income Tax

Forfeiture of deposit on account of cancellation of lease allowed as business loss u/s 28

Forfeiture of deposit on account of cancellation of lease allowed as business loss u/s 28 being incidental to regular business…

5 years ago
  • Income Tax

Sale of land situated within 8 KM of municipal limit. Difference in Tahsiladar’s certificate & internet

Sale of land situated within 8 KM of local municipality limit. Difference in certificate issued by Tahsiladar and internet details…

5 years ago
  • Income Tax

Non-cultivation due to vagaries of nature will not change character of land to non agricultural

Non-cultivation of land due to vagaries of nature will not change the character of land from agriculture to non- agricultural…

5 years ago
  • Income Tax

Additional depreciation on small items engaged in manufacturing of food products allowed

Additional depreciation on small items engaged in manufacturing of food products allowed. It cannot be denied for installing items at…

5 years ago
  • Income Tax

Depreciation on intangible assets on conversion of proprietorship into private ltd. company allowed

Depreciation on intangible assets on conversion of proprietorship into private limited company allowed as the transaction was not considered sham…

5 years ago