Section 54 deduction was allowable on cash transactions involving residential property as it was ensured that genuine investments in residential properties were duly recognized for tax exemptions.
Gujarat High Court dismisses Revenue’s appeal as unsigned excel sheet lacks corroboration in S. 153C Income Tax Act proceedings. Read full judgment here.
Gujarat High Court allows income tax deduction for payment clearing mortgage, dismissing Revenue’s appeal under section 263. Full text of judgment explained.
Read the detailed analysis of the Gujarat High Court judgment in the case of Torrent Power Ltd. vs State of Gujarat & Ors, addressing key legal issues in electricity billing.
When consideration is set forth in instrument executed by State Government, Central Government, a local authority or a Housing Board etc. such valuation shall be deemed to be true market value of property, which is subject matter of instrument.
Gujarat High Court ruled on N H Kapadia Education Trust vs ACIT, addressing the corpus donation eligibility for exemption under Section 11(1)(d) of the Income Tax Act.
Gujarat High Court grants Alembic Ltd Rs. 4 crore income tax deduction under Section 80IA for their captive power plant. Read the full judgment and analysis here.
Gujarat High Court rules that Merchant Overtime (MOT) charges cannot be levied for services provided by Central Excise officers during office hours.
Gujarat High Court rules in favor of Bharti Airtel Ltd, stating distributor discounts are not subject to TDS under Section 194 of the Income Tax Act. Read the full judgment here.
Explore the Gujarat High Court’s judgment on CGST interest under Section 50, clarifying it’s payable from deposit to electronic cash ledger, not filing return. Read the full text analysis here.
