Category: Judgments

Not allowing cross examination legally or factually incorrect. It was strange that FFA held that non providing such opportunity would not vitiate proceedings-ITAT

Not allowing cross examination legally or factually incorrect. It was strange that FFA held that non providing such opportunity would not vitiate proceedings-ITAT

March 12, 2017 Income Tax, ITAT, Judgments
Not allowing cross examination legally or factually incorrect. It was strange that FFA held that non providing such opportunity would not vitiate proceedings-ITAT   ABCAUS Case Law Citation: ABCAUS 1168 (2017) (03) ITAT Assessment Year : 2005-06 Date/Month of Pronouncement: March, 2017 Brief Facts of the Case: A …
Interest expenditure Disallowance u/s 36(1)(iii)-Allahabad High Court says business expediency not a must, earlier Division Bench decision was not a good law

Interest expenditure Disallowance u/s 36(1)(iii)-Allahabad High Court says business expediency not a must, earlier Division Bench decision was not a good law

March 10, 2017 High Courts, Income Tax, Judgments
Interest expenditure Disallowance u/s 36(1)(iii) for interest free loan-Allahabad High Court says business expediency not a must, earlier Division Bench decision was not a good law, pronounced in ignorance. ABCAUS Case Law Citation: ABCAUS 1166 (2017) (03) HC The Grievance: The appellant assessee was aggrieved by part of the …
No Section 54F exemption if construction not started within time prescribed. Development charges paid not start of construction-Allahabad HC

No Section 54F exemption if construction not started within time prescribed. Development charges paid not start of construction-Allahabad HC

March 9, 2017 High Courts, Income Tax, Judgments
No Section 54F exemption if construction not started within time prescribed. Development charges paid not start of construction-Allahabad HC In a recent judgment, the Hon’ble Allahabad High Court has held that capital gain exemption u/s 54F not allowable if construction not started within prescribed time. ABCAUS Case Law …
Royalty and fee for technical assistance held revenue expenditure not capital as on termination of agreement all rights of the assessee stood extinguished.

Royalty and fee for technical assistance held revenue expenditure not capital as on termination of agreement all rights of the assessee stood extinguished.

March 8, 2017 High Courts, Income Tax, Judgments
Royalty and fee for technical assistance held revenue expenditure not capital as on termination of agreement all rights of the assessee stood extinguished. The judgment was delivered by the Hon’ble Allahabad High Court in a batch of similar cases. ABCAUS Case Law Citation: ABCAUS 1160 (2017) (03) HC Question …