Illegally encroached land is not a capital asset; profit arising on its sale is taxable as income from other source June 29, 2015[2015] (Mumbai – Trib.) IT: Property illegally encroached […]
Case Law Income Tax - 3. page
Interest paid on partner’s cap was allowable if cap was used to construct property from which rental income was earned
Interest paid on partner’s cap was allowable if cap was used to construct property from which rental income was earned HIGH COURT OF BOMBAY Commissioner of Income-tax-12, Mumbai v. Sane […]
Compensation received on termination of agency agreement is taxable as business income and not capital gain
Compensation received on termination of agency agreement is taxable as business income and not capital gain June 16, 2015[2015] 58 taxmann.com 17 (Madras)/[2015] 370 ITR 502 (Madras)(MAG.) HIGH COURT OF […]
Omission of creditors to participate in inquiry initiated by revenue wouldn’t prove that they lacked identity
HIGH COURT OF CALCUTTA Commissioner of Income-tax, Central – III v. Chandela Trading Co. (P.) Ltd.* I. Section 69A of the Income-tax Act, 1961 – Unexplained moneys (Loan) – Assessment […]
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