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Dividend Income not to be Included in Total Income and is Exempt from Tax when the Shares are Held as "Stock-in-trade": ITAT upholds Application of Section 14A of Income Tax Act [Read Order]

Ipsita Das

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that Section 14A of Income Tax Act,1961 applies when shares are held as “stock...

Disallowance of Expenditure u/s 14A can't be made when exempt Income-earning securities are held as...

Listed shares and Securities treated as Stock-in-Trade by Assessee is to be Treated as Business...

No Deemed Rent on Flats Sold by Builder declared as Stock-in-Trade: ITAT [Read Order]

Builder not liable to Pay Notional Rent on Residential Assets held as Stock-in-Trade: ITAT deletes...

Deposit of Gold Jewellery by Family members of Partners amount to Stock in Trade of the Firm: ITAT [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal(ITAT) has held that the deposit of gold jewellery by family members of a partner in the partnership firm would be treated as the stock in trade of...

Conversion of Stock in Trade based on Development Agreement without consideration not accrues Income: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that Conversion of stock in trade based on a development agreement without consideration does not accrue income. The appellant...

Investments Converted into Stock-in-Trade can avail exemption u/s 10(38): ITAT [Read Order]

The Pune bench of Income Tax Appellate Tribunal ( ITAT )comprising Shri Inturi Rama Rao, Accountant Member and Shri S S Viswanethra Ravi, Judicial Member has held that investment converted into stock...

Deemed Rent not applicable to Property that is ‘Stock-in-Trade’: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the concept of deemed rent cannot be applicable to the properties which are treated as ‘stock-in-trade’ of a business. The...

Reduction in Price of Stock-in-Trade can be allowed while Computing Business Income only in Trading Account: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) held that a reduction in the price of the stock-in-trade can be allowed while computing business income only in trading accounts. But, if such a provision is...

Land cannot be treated as Stock in Trade if No Construction was carried on It: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that if no business activity or construction is carried out on a piece of land, it can still be treated as stock in trade merely...

Builder not liable to pay Deemed Rent on Unsold Flats: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune bench has held that since the unsold flats amount to stock-in-trade in the hands of the builder, no deemed rent can be derived from the same under the...