Direct Tax
Bombay High Court Upholds Disallowance of Interest Paid to Beneficiaries, Rules Trust as Association Of Persons
The Bombay High Court has upheld disallowance of interest paid to beneficiaries, and ruled that the appellant trust was an association of persons under...
Amalgamated Company Can Claim Depreciation On Adjusted Written Down Value Of Assets Without Central Govt. Approval: Bombay High Court
The Bombay High Court has held that amalgamated company can claim depreciation on adjusted written down value of assets without central govt. approval under...
No Income Tax On Exchange Of Old Flats In Lieu Of Old Ones: ITAT
In a major relief to flat owners, the Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that no income tax is payable...
Mere Loose Papers Not Admissible Evidence For Making Income Tax Addition: ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that loose papers cannot be considered as admissible evidence for making an addition...
Delhi High Court Quashes Reassessment Against Departmental Stores Selling Wine, Beer
The Delhi High Court has quashed reassessment against departmental stores selling wine and beer.
The bench of Justice Vibhu Bakhru and Justice Tushar Rao Gedela...
Compensation For Compulsory Acquisition Of Landed Property Is Income Under Capital Gains: Kerala High Court
The Kerala High Court has held that amount received as compensation for compulsory acquisition of landed property is income under capital gains.
The bench of...
Sub-Registrars To Report Cash Payments of Rs. 2 Lakh and Above In Property Deals To Income Tax Dept.: Supreme Court
The Supreme Court directed the sub-registrars to report cash payments of Rs. 2 lakh and above in property deals to the income tax department.
The...
Compensation For Delay In Property Handover By Builder Not Taxable: ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the compensation for delay in property handover by builder is not taxable...