ITAT Delhi held that deduction under section 54 of the Income Tax Act is allowable based on handing over of possession and not based on payment of consideration. Date of handing over of possession of new property is relevant for deduction u/s. 54.
ITAT Bangalore held that TDS are not applicable as EPFO have not provided rent free accommodation to employees, as employees are paying license fees as per Rules of Govt. of India.
ITAT Ahmedabad held that the expenses incurred to remove impediments or encumbrances in way of transfer of capital asset has to be allowed as deduction under the head ‘cost of improvement’ while computing taxable amount of capital gain.
ITAT Jaipur held that disallowance u/s 40(a)(ia) of the Income Tax Act for non-deduction of TDS unjustified merely on the allegation that certificate of accountant furnished is not in accordance with Rule 31ACB as such disallowance will lead to double taxation which is against the spirit of law.
ITAT Pune re-adjudicates Vishranti Gruh Trust’s cancelled 12AB registration due to failure in furnishing genuineness of activities. Learn more about the decision.
Analysis of ITAT Kolkata’s landmark decision in Bagaria More Co. Ltd. vs ADIT, focusing on the treatment of the cost of amenities provided to tenants under Income from House Property.
A detailed analysis of the ITAT Chennai’s ruling on Trimex Sands Pvt. Vs PCIT. The court allows income tax deductions, recognizing mineral extraction from beach sand as manufacturing u/s 2(29BA) of the Income Tax Act.
Explore the landmark ruling of Vijay Shriram Gundale Vs ACIT by ITAT Pune. Learn how excess stock income is categorized as business income, exempt from Section 69B of the Income Tax Act.
ITAT Mumbai quashes PCIT order against Masani Engineering Co. Pvt Ltd . Explore detailed analysis of why allegations of understated revenue in P&L were baseless.
ITAT Kolkata’s ruling on additional depreciation under Section 32(1)(iia) of Income Tax Act on Captive Power Plant Equipment in DCIT Vs Tirupati Sugars.
