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Sale Agreement

Object of section 31 of Motor Vehicles Act is only for Collection of Tax: Gujarat HC [Read Order]

Yogitha S. Yogesh

The Gujarat High Court observed that the object of section 31 of the Motor Vehicles Act, 1988 is only for collection of tax. Himatbhai Laxmanbhai...

Section 43CA of Income Tax Act not Applicable to Sale Agreement Entered Before 1.4.2014: ITAT...

Compensation Received for Cancellation of Sale Agreement not Declared Service under Section 66E(e)...

Suit can be Maintained by President as Representative of Trust in Terms of Trust Deed for and on...

Advance Amount Forfeited on Cancellation of Sale Agreement is Deductible from the Cost of...

Income Tax Dept conducts Search in Karnataka, Unearths Unaccounted Income of Rs. 1300 crore

Income Tax Department initiated Search & Seizure actions on 20.10.2022 and 02.11.2022 on certain individuals who had executed Joint Development Agreements (JDAs) with various real-estate...

Duty Exemption can’t be allowable When Slum Sale Agreement made only to Transfer the benefit of Exemption beyond 10 years: CESTAT [Read Order]

The New Delhi bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) has held that duty exemption can’t be allowable when a slum sale agreement is made only to transfer the...

Eviction Charges paid are allowable as Business Expenditure: ITAT [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that eviction charges paid are allowable as business expenditure. Shri. S. Sridhar appeared for the appellant and Shri. G....

Sale of Agricultural Land does not amount to Capital Gain: ITAT allows Tax Exemption [Read Order]

The Kolkata Bench, of the Income Tax Appellate Tribunal (ITAT), has held that the sale of agricultural land does not amount to capital gain for the purpose of allowing exemption under section 10(1)...

Goodwill Acquired under Slump Sale Agreement eligible for Depreciation: ITAT [Read Order]

The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the depreciation allowable on goodwill acquired under a slump sale agreement under section 32 of the Income Tax Act,...

ITAT deletes Addition on Refund of Advance under Sale Agreement in Installments [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has recently deleted an addition in respect of receiving refund of advance paid by the assessee under a sale agreement in installments. ...

LTCG to be computed on the basis of Guidance Value of Property as on date of Sale Agreement, not on date of Sale Deed: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the long term capital gains (LTCG) to be computed on the basis of guidance value of the property as on date of Sale Agreement, not...