On approval of resolution plan by all claims of Income Tax, which are not a part of resolution plan, shall stand extinguished
Held that we are inclined to allow the Cenvat Credit of input services for construction of immovable property, which is further let out to various customers.
Held that the Revenue is bound by the resolution plan as accepted by the NCLT and not entitled to anything more than what is provided therein.
ITAT held that by acquiring business rights along with tangible assets, the assessee got an up and running business and the specified intangible assets acquired under slump sale agreement are in the nature of any other business or commercial rights of a similar nature on which depreciation is allowable.
Satyabhama Avadhanula Karimnagar Vs ACIT (ITAT Hyderabad) I find the Assessing Officer on the basis of inquiry conducted u/s 131(1)(d) made addition of Rs.22.00 lakhs being unexplained cash found from the possession of the assessee and made addition of the same u/s 69A rws 115BBE of the I.T. Act. I find the learned CIT (A) […]
Saireddy Pruthviraj Reddy Vs ITO (ITAT Hyderabad) It is pleaded by the assessee before us that while receiving the flat No. 914, the mother of the assessee valued the same at Rs. 27,23,000/-and offered to tax the capital gains arising therefrom. On this premise the assessee insists that the cost of acquisition of plot No. […]
Explore the ITAT Hyderabad ruling in Sri Narsimha Reddy Pindi vs ITO case. Understand how past savings from rental and agricultural income validated the demonetization period cash deposit.
Expenditure incurred by the assessee was not merely philanthropic, but also had a business angle, therefore, deduction was allowable to assessee under section 37.
Lateef Abdul Mohd. successfully challenges ITAT Hyderabad decision on cash deposit addition during demonetization, citing sales correspondence and legal precedent.
The document impounded herein is duly supported by all the correct entries as per assessee’s stand itself, addition u/s 68 tenable
