![Transaction cannot be treated as “Real Estate” If Property held for a Long Time: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Transaction-Real-Estate-Property-held-for-a-Long-Time-ITAT-Taxscan.jpg "Transaction cannot be treated as “Real Estate” If Property held for a Long Time: ITAT [Read Order]")
Transaction cannot be treated as “Real Estate” If Property held for a Long Time: ITAT [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that transactions could not be treated as real estate if property was held for...
![Income from Sale of Land held as “Stock-in-Trade” by Builder Taxable as “Business Income”, Not “Capital Gain”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Income-Stock-in-Trade-Builder-Taxable-Business-Income-Capital-Gain-ITAT-TAXSCAN.jpg "Income from Sale of Land held as “Stock-in-Trade” by Builder Taxable as “Business Income”, Not “Capital Gain”: ITAT [Read Order]")
![Receipt from Conversion of Agricultural Land into Non-Agricultural Purpose is “Business Income”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Agricultural-Land-Business-Income-ITAT-Conversion-of-Agricultural-Land-taxscan.jpg "Receipt from Conversion of Agricultural Land into Non-Agricultural Purpose is “Business Income”: ITAT [Read Order]")
![Relinquishment of Right in Land Earmarked for Common Utility Purpose as per Regulatory Requirements Not Taxable as Capital Gain or Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Relinquishment-Land-Common-Utility-Purpose-Regulatory-Requirements-Taxable-Capital-Gain-Business-Income-ITAT-Taxscan.jpg "Relinquishment of Right in Land Earmarked for Common Utility Purpose as per Regulatory Requirements Not Taxable as Capital Gain or Business Income: ITAT [Read Order]")
![Warehousing Charges Taxable as “Business Income”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Warehousing-Charges-Taxable-as-Business-Income-ITAT-Taxscan.jpg "Warehousing Charges Taxable as “Business Income”: ITAT [Read Order]")
![Generation of Business Income Not Necessary to Claim Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Generation-of-Business-Income-Business-Income-Business-Expenditure-ITAT-taxscan.jpg "Generation of Business Income Not Necessary to Claim Business Expenditure: ITAT [Read Order]")
Payment for Breach of Contractual Obligation Pursuant to An Arbitration Award Deductible from Business Income: ITAT [Read Order]
The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has held that payment of contractual obligation pursuant to an arbitration award deductible from Business Income. Assessee Nipro...
![Payment for Breach of Contractual Obligation Pursuant to An Arbitration Award Deductible from Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Payment-Breach-of-Contractual-Obligation-Contractual-Obligation-Arbitration-Award-Business-Income-ITAT-Income-Tax-taxscan-.jpg "Payment for Breach of Contractual Obligation Pursuant to An Arbitration Award Deductible from Business Income: ITAT [Read Order]")
No Provision under “Profits and Gains from business or profession” deems Rent from Unsold Flats held as Stock as ‘Business income’: ITAT [Read Order]
The Pune Bench of Income Tax Appellate Tribunal (ITAT) has upheld the decision of Commissioner of Income Tax (CIT(A) that there were no provisions under Profits and Gains from Business or Profession...
![No Provision under “Profits and Gains from business or profession” deems Rent from Unsold Flats held as Stock as ‘Business income’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/profits-and-Gains-from-business-Profit-and-Gains-from-profession-Rent-from-Unsold-Flats-Stock-Business-income-ITAT-Income-Tax-Taxscan.jpg "No Provision under “Profits and Gains from business or profession” deems Rent from Unsold Flats held as Stock as ‘Business income’: ITAT [Read Order]")
![Sale of Unsold Flats by Builder Taxable as “Business Income”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Sale-of-Unsold-Flats-Sale-Unsold-Flats-Builder-Taxable-Business-Income-Business-Income-ITAT-taxscan.jpg "Sale of Unsold Flats by Builder Taxable as “Business Income”: ITAT [Read Order]")
Interest Income earned on FD kept as Security for Performance Guarantee is Taxable as Business Income Can be set off against Project Expenses: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has held that interest income earned on Fixed Deposit (FD) kept as security for performance guarantee is taxable as business income Can...
![Interest Income earned on FD kept as Security for Performance Guarantee is Taxable as Business Income Can be set off against Project Expenses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Interest-Income-Income-Interest-Fixed-Deposit-Security-Deposit-Performance-Guarantee-Guarantee-Taxable-Business-Income-Project-Expenses-ITAT-Taxscan.jpg "Interest Income earned on FD kept as Security for Performance Guarantee is Taxable as Business Income Can be set off against Project Expenses: ITAT [Read Order]")
Additional Income offered as part of Business Income, entitled to Income Tax Deduction u/s 40(b)(v): ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Bangalore Bench held that Additional income offered as part of business income, entitled to deduction under Section 40(b)(v) of the Income Tax Act, 1961. ...
![Additional Income offered as part of Business Income, entitled to Income Tax Deduction u/s 40(b)(v): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Additional-Income-Business-Income-Income-Tax-Deduction-Income-Tax-Deduction-Tax-ITAT-taxscan.jpg "Additional Income offered as part of Business Income, entitled to Income Tax Deduction u/s 40(b)(v): ITAT [Read Order]")
Income from Design Charges are business income to compute deduction u/s 10A of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ), held that Income from Design Charges are business income to compute deduction under Section 10A of the Income Tax Act, 1961. The...
![Income from Design Charges are business income to compute deduction u/s 10A of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Design-Charges-business-income-business-income-deduction-Income-Tax-Act-Income-Tax-Tax-ITAT-taxscan.jpg "Income from Design Charges are business income to compute deduction u/s 10A of Income Tax Act: ITAT [Read Order]")