The very fact that balances were shown under sundry debts itself went to prove that same had emanated out of sales of assessee and hence, income relatable thereto in the form of sales and se… Read More

Where assessee made no bifurcation of land and building and claimed depreciation on entire amount, therefore the case was remanded back to AO for bifurcating consideration into land & bu… Read More

Clarification regarding date of declaration of results of CA exams. It has been brought to our notice that a fake announcement regarding the date of declaration of the Common Proficiency Tes… Read More

Tarun Jalali Vs Dy. DIT (ITAT Delhi) sub-section 4 of section 54F prescribes appropriation of sale consideration of original asset towards provision of new asset made within one year before… Read More

Deduction under section 54F was in respect of capital gain arising in the hands of wife of assessee, should have been claimed in the return of income filed by the wife of assessee, therefor… Read More

Moreover, it has to be kept in mind by the AO that merely because nomenclature of expense is given as ‘Labour Charges Paid’ does not conclusively determine the character and natu… Read More

DCIT Vs M/s. Real Strips Ltd. (ITAT Ahmedabad) The addition was solely made on the basis of the statement furnished by the production manager of the assessee at the time of survey. The lower… Read More

The facts in brief qua the issue raised in the grounds are that assessee filed its return of income electronically for the AY. 2009-10 on 23-09-2009, declaring NIL income. This return was pr… Read More

The present Misc. Application has been moved by the applicant – assessee pleading that though the Tribunal vide order dated 20.12.2017 had stayed the recovery of the balance amount to… Read More

Mumbai International Airport : Upfront fees paid to the Airports Authority of India (AAI) is a commercial right entitled to depreciation @ 25% relating to intangible assets Read More