![No Satisfactory Explanation Regarding Huge Fixed Assets and Cash: Patna HC Rejects Bail of Bihar Property Dealer in PMLA Case [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Huge-Fixed-Assets-Cash-Patna-HC-Bail-Bihar-Property-Dealer-PMLA-Case-TAXSCAN.jpg "No Satisfactory Explanation Regarding Huge Fixed Assets and Cash: Patna HC Rejects Bail of Bihar Property Dealer in PMLA Case [Read Order]")
No Satisfactory Explanation Regarding Huge Fixed Assets and Cash: Patna HC Rejects Bail of Bihar Property Dealer in PMLA Case [Read Order]
The Patna High Court rejected bail of a Bihar property dealer accused of the Prevention of Money Laundering Act, 2002 (PMLA) case as no satisfactory...
![Rejection of Depreciation Claim on fixed Assets u/s 32 of IT Act Due to Improper Filing of Depreciation Report: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Rejection-of-depreciation-Claim-on-fixed-assets-IT-Act-improper-filing-of-depreciation-report-ITAT-directs-re-adjudication-depreciation-Claim-on-fixed-assets-Rejection-of-depreciation-Claim-taxscan.jpg "Rejection of Depreciation Claim on fixed Assets u/s 32 of IT Act Due to Improper Filing of Depreciation Report: ITAT directs Re-adjudication [Read Order]")
![No Exemption Claimed in the Preceding Year on the Purchase of Fixed Assets: ITAT deletes addition made u/s 143(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Exemption-No-Exemption-Preceding-Year-Purchase-of-Fixed-Assets-Fixed-Assets-ITAT-addition-Income-Tax-taxscan.jpg "No Exemption Claimed in the Preceding Year on the Purchase of Fixed Assets: ITAT deletes addition made u/s 143(1) [Read Order]")
![Foreign Exchange Gain on Acquisition of Fixed Assets is allowable as Deduction as per Section 43A: ITAT grants relief to Vi [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Foreign-Exchange-Gain-Fixed-Assets-Deduction-ITAT-Vi-ITAT-grants-relief-to-Vi-Income-Tax-Taxscan.jpg "Foreign Exchange Gain on Acquisition of Fixed Assets is allowable as Deduction as per Section 43A: ITAT grants relief to Vi [Read Order]")
Depreciation allowable u/s 11(6) when Cost of Fixed Assets not claimed application of Income: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that depreciation is allowable u/s 11(6) when cost of fixed assets is not claimed application of income. M/s. Podar Literacy...
![Depreciation allowable u/s 11(6) when Cost of Fixed Assets not claimed application of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Depreciation-Cost-Fixed-Assets-Income-ITAT-taxscan.jpg "Depreciation allowable u/s 11(6) when Cost of Fixed Assets not claimed application of Income: ITAT [Read Order]")
Interior Design, Electrification Charges, Furniture Charges, Wallpaper, Toughened Glass, etc. are Purely Temporary Structures: ITAT allows 100% Depreciation [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi Bench has held that interior design, electrification charges, furniture charges, wallpaper, toughened glass, etc. are purely temporary structures; ITAT...
![Interior Design, Electrification Charges, Furniture Charges, Wallpaper, Toughened Glass, etc. are Purely Temporary Structures: ITAT allows 100% Depreciation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Interior-Design-Electrification-Charges-Furniture-Charges-Wallpaper-Toughened-Glass-Temporary-Structures-ITAT-Depreciation-Taxscan.jpeg "Interior Design, Electrification Charges, Furniture Charges, Wallpaper, Toughened Glass, etc. are Purely Temporary Structures: ITAT allows 100% Depreciation [Read Order]")
Subsidy not to be reduced from Actual Cost of Fixed Assets u/s 43(1) for purpose of Calculation of Depreciation: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune has ruled that, Subsidy is not to be reduced from the actual cost of fixed assets under Section 43(1) for purpose of calculation of depreciation. The...
![Subsidy not to be reduced from Actual Cost of Fixed Assets u/s 43(1) for purpose of Calculation of Depreciation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Subsidy-actual-cost-fixed-assets-calculation-of-depreciation-ITAT-Taxscan.jpg "Subsidy not to be reduced from Actual Cost of Fixed Assets u/s 43(1) for purpose of Calculation of Depreciation: ITAT [Read Order]")
Development Fee directly taken to Corpus Account and Invested in Fixed Asset can be allowed as Capital Receipt: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that development fees directly taken to corpus account and invested in a fixed asset can be allowed as capital receipt. The...
![Development Fee directly taken to Corpus Account and Invested in Fixed Asset can be allowed as Capital Receipt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Development-Fee-Corpus-Account-Fixed-Asset-Capital-Receipt-ITAT-Taxscan.jpg "Development Fee directly taken to Corpus Account and Invested in Fixed Asset can be allowed as Capital Receipt: ITAT [Read Order]")
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...
![Conversion of Stock in Trade based on Development Agreement without consideration not accrues Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/stock-in-Trade-development-agreement-income-ITAT-taxscan.jpg "Conversion of Stock in Trade based on Development Agreement without consideration not accrues Income: ITAT [Read Order]")
![Entertainment subsidy falls under Capital Receipt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Entertainment-subsidy-capital-receipt-ITAT-taxscan.jpg "Entertainment subsidy falls under Capital Receipt: ITAT [Read Order]")
ITAT sets aside Order Deleting Disallowances on Account of Loss on Revaluation of Fixed Assets [Read Order]
The Delhi Income Tax Appellate Tribunal ( ITAT ) set aside order deleting disallowances on account of loss on revaluation of fixed assets. The CIT (A) in the case of Railtel Corporation of India...
![ITAT sets aside Order Deleting Disallowances on Account of Loss on Revaluation of Fixed Assets [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/ITAT-Order-Loss-Fixed-Assets-taxscan.jpg "ITAT sets aside Order Deleting Disallowances on Account of Loss on Revaluation of Fixed Assets [Read Order]")