INCOME TAX : Where assessee, real estate company, had advanced loan to sister company for purpose of acquisition of land and to acquire a controlling stake in sister concern which was also engaged in real estate business, deduction claimed by assessee under section 36(1)(iii) could...
INCOME TAX : Notice issued in SLP filed against impugned order of High Court that where on queries raised by Assessing Officer regarding several issues such as interest passed on to clients, TDS deductions on advances made to a company for construction, reduction in sales...
IT: Where in course of assessment, Assessing Officer made addition to assessee's income under section 41(1) in respect of loan interest waiver by Government of India, in view of fact that assessee at no point of time had claimed waiver of interest on Government loan...
(2020) 116 taxmann.com 701 (Del) INCOME TAX : Where assessee succeeded before CIT(A) in ultimate analysis and was, thus, not an aggrieved party, in Revenue's appeal, ITAT committed a mistake by not permitting assessee (respondent before it) to support final order of CIT(A) by assailing findings...
IT : Where assessee purchased goods from a party on high-sea basis and it had to pay customs penalty for defect in relevant REP licence issued in favour of that party, such payment was allowable as business expenditure ■■■ [2015] 53 taxmann.com 171 (Delhi) HIGH COURT OF DELHI Commissioner...
[2015] 56 taxmann.com 180 (Delhi - Trib.)/[2015] 37 ITR(T) 332 (Delhi - Trib.) IT: Where tax free government grant provided to assessee government undertaking was reduced by amount of income of assessee from internal sources, such income would be exempted; part of such internal income which was not adjusted by...
IT: Where share broker held shares only of three companies as investment, kept them in a separate portfolio and sold them after a gap of 4 months, short-term capital gains would arise ■■■ [2014] 52 taxmann.com 221 (Delhi) [2015] 228 Taxman 175 (Delhi)(Mag.) [2014] 369 ITR 228 (Delhi) HIGH COURT...
[2017] 399 ITR 143 (Delhi) HIGH COURT OF DELHI U.P. Distillers Association v. Commissioner of Income-tax* S. RAVINDRA BHAT AND Sanjeev Sachdeva, JJ. IT Appeal No. 830 of 2017 OCTOBER 23, 2017 Section 12AA of the Income-tax Act, 1961 - Charitable or religious trust - Registration procedure (Cancellation of registration)...
INCOME TAX : Assessee company which succeeded erstwhile partnership firm, which had entered into an agreement with Rajasthan Government for construction of road and collection of toll tax will be entitled to deduction under section 80IA being an enterprise carrying on stated business pertaining to infrastructure facility and owned...
IT : Where AO framed assessment of assessee u/s 143(3) and subsequently he reopened said assessment for reason that substantial cash transactions were carried out with banks, which were not verified, since assessee had filed bank statements for relevant year, reason for reassessment was vague IT : Where assessee was...