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No Claim of Purchase of Asset as an application of Income: ITAT directs to allow Depreciation [Read Order]

Kalyani B. Nair

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench directed to allow depreciation on the ground that there was no claim of purchase of asset as...

Gross Income can be determined on the basis of ITR: Calcutta HC revises Insurance Compensation in...

Rental Income from Installation of IBS tower is Income from House Property: ITAT [Read Order]

TDS Credit allowable when Income offered to Tax relating to said TDS: ITAT [Read Order]

Income from Lease Charges on Multiplex is Business Income: ITAT [Read Order]

TDS Credit should be Allowed when Assessee has offered income relating to said TDS: ITAT [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the TDS credit should be allowed when the assessee has offered the income relating to TDS under the provisions of the...

Income from Centralized Services by Startwood Hotel from Indian Customers not 'FTS': Delhi HC dismisses Dept’s Plea [Read Order]

The Delhi High Court, while upholding an order of the Income Tax Appellate Tribunal (ITAT), has held that payments received by the Assessee, M/s Starwood Hotel and Resorts Worldwide Inc, from its...

ITAT remands back matter to consider pending DVO Report to calculate income from Sale of Land [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Kolkata Bench remanded back matter to consider pending District Valuation Officer (DVO) Report to calculate income from sale of land. The assessee, M/s....

Income from Compensation of Land Acquisition u/s 96 RFCTLARR Act not taxable under Income Tax Act: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), ruled that Income from compensation of land acquisition under Section 96 of the Right to Fair Compensation and Transparency in Land...

Addition of Income based on statement of Director without verifying details of Payments from Third Parties is not permissible: ITAT [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Addition of Income based on the statement of the Director without verifying details of payments from Third parties is...

Addition of Income on Unsold Flats held as Stock in Trade of Business of a Builder and Developer is not permissible: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the percentage completion method of Revenue recognition practised by Builder is acceptable as per Accounting Standards. ...

Nexus between Income of Detenue and Acquisition of Property must be established under SAFEM Act: Madras HC [Read Order]

The Madras High Court has held that the nexus between Income of detenue and the acquisition of property must be established under the Smugglers and Foreign Exchange Manipulators (Forfeiture of...

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