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Sale proceeds of Investment in Shares made as Investor treated as Capital Gains’, not as Business Income: ITAT [Read Order]

Sale proceeds of Investment in Shares made as 'Investor' treated as 'Capital Gains’, not as...

Taxscan Team
Expenditure resulting in Income or Substantial Income not necessary for granting Deduction for Business Purpose: ITAT [Read Order]

Expenditure resulting in Income or Substantial Income not necessary for granting Deduction for...

Taxscan Team
ITAT upholds Addition of Income from Cricket Betting as Business Income applying 1% of GP [Read Order]

ITAT upholds Addition of Income from Cricket Betting as Business Income applying 1% of GP [Read...

Taxscan Team
Discount on Issue of ESOP Deductible from Business Income: ITAT grants Relief to Morgan Stanley [Read Order]

Discount on Issue of ESOP Deductible from Business Income: ITAT grants Relief to Morgan Stanley...

Taxscan Team

Rent from Unsold Flat by Developer Taxable as 'Income from House Property': ITAT [Read Order]

The Income Tax Appellate Tribunal Pune Bench has held that the rent from unsold flats by the developer is taxable as "income from house property". The appellant, Mr. Atul Jaiprakash Goel, is a...

Rent from Unsold Flat by Developer Taxable as Income from House Property: ITAT [Read Order]
Taxscan Team

Subsidy received as Octroi Duty Refund is Capital Receipt and not Taxable: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai has held that, Subsidy received as an octroi duty refund is a capital receipt and not chargeable as tax. Assessee Company, Sudal Industries Limited...

Subsidy received as Octroi Duty Refund is Capital Receipt and not Taxable: ITAT [Read Order]
Taxscan Team

Concealment of Income by not filing Income Tax Return is an Offence: Madras HC upholds Criminal Proceedings [Read Order]

The Madras High Court has held that the act of deliberate concealment of income by the assessee by not filing the income tax return is an offence and therefore, upheld the criminal proceedings. ...

Concealment of Income by not filing Income Tax Return is an Offence: Madras HC upholds Criminal Proceedings [Read Order]
Taxscan Team

Income earned in Absence of FTS clause in DTAA would fall as Business Income and cannot Taxed in India in Absence of PE: ITAT [Read Order]

The Delhi Bench Income Tax Appellate Tribunal has held that income earned in absence of Fee for Technical Service (FTS) clause in Double tax avoidance agreement (DTAA) would fall as business income...

Income earned in Absence of FTS clause in DTAA would fall as Business Income and cannot Taxed in India in Absence of PE: ITAT [Read Order]
Taxscan Team

Income from Sale Trading is Business Income as Claimed by Assessee in Previous Years: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the income from share transactions shall be treated as business income under the provisions of the Income Tax Act, 1961 since the...

Income from Sale Trading is Business Income as Claimed by Assessee in Previous Years: ITAT [Read Order]
Taxscan Team

Dividend received by Builder not subject to DDT shall Assessable as 'Other Income': ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) comprising Shri Vikas Awasthy, Judicial Member & Shri Gagan Goyal, Accountant Member has held that the dividend income received by the...

Dividend received by Builder not subject to DDT shall Assessable as Other Income: ITAT [Read Order]
Taxscan Team

Refund of Sewage Tax constitute ‘Business Income’: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the refund of sewage tax would be assessed as business income as the same was earlier claimed as business expenditure under the...

Refund of Sewage Tax constitute ‘Business Income’: ITAT [Read Order]
Taxscan Team

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