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Disallowance of EPF shall be Added while Taxing 40% of Income from Tea Plantation Business as Business Income: ITAT [Read Order]

Fathima Karama A.M

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has held that the disallowance of Employment Provident Fund (EPF) shall be added while...

Sale and Purchase of Mutual Funds by Maruti Suzuki can be treated as Business Income If Activities...

Income from giving Commercial Properties for Compensation as per MOA Taxable as “Business Income”:...

Transaction cannot be treated as “Real Estate” If Property held for a Long Time: ITAT [Read Order]

Income from Sale of Land held as “Stock-in-Trade” by Builder Taxable as “Business Income”, Not...

Receipt from Conversion of Agricultural Land into Non-Agricultural Purpose is “Business Income”: ITAT [Read Order]

The Rajkot Bench of Income Tax Appellate Tribunal (ITAT) has held that the receipt from conversion of agricultural land into Non-Agricultural purpose would be treated as business income. Naresh...

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]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that relinquishment of right in land earmarked for common utility purposes as per regulatory requirements is not taxable as...

Warehousing Charges Taxable as “Business Income”: ITAT [Read Order]

Raipur bench Of Income Tax Appellate Tribunal (ITAT) has recently held that warehousing charges are taxable as business income. Assessee Chhattisgarh State Warehousing Corporation is a state...

Generation of Business Income Not Necessary to Claim Business Expenditure: ITAT [Read Order]

The Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that the generation of business income is not necessary to claim business expenditure. Assesse Zhilmil Electronics Pvt....

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...

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...

Sale of Unsold Flats by Builder Taxable as “Business Income”: ITAT [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT )has held that the income from sale of unsold flats by the builders should be taxable under the head of income from business. ...

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