ITAT Pune held that credit for TDS is available in the year in which income is reported, credit of TDS cannot be deferred on the basis of reporting by the deductor.
ITAT Pune held that lease rent paid for acquiring mining rights is capital in nature and hence deduction against the same is not allowable.
Cosmopolis Constructions Vs ACIT (ITAT Pune) ITAT held that no addition is maintainable on account of deemed rent on unsold flats which were treated as stock-in-trade by the assessee. FULL TEXT OF THE ORDER OF ITAT PUNE This appeal by the assessee against the order dated 04-02-2022 passed by the Commissioner of Income Tax (Appeals)-11, […]
ITAT Pune held that mere non-furnishing of declaration to the bank in terms of proviso to rule 37BA(2) of the Income Tax Rules, the amount of tax deducted at source on interest on bank deposit cannot be disallowed while clubbing of the income.
ITAT Pune held that as assessee does not satisfy the condition of advancement of any other object of general public utility, its eligibility for benefit of exemption under section 11 of the Income Tax Act is doubtful.
ITAT Pune held that amount refunded back to the employer on account of breach of non-compete agreement by the employee cannot be construed as salary for the purpose of charging income tax.
ITAT Pune held that as on the date of agreement, the building was not constructed, the date of possession will be considered as actual date of purchase for the purpose of claiming exemption under section 54 of the Income Tax Act.
ITAT Pune held that interest paid on customs duty is allowable as deduction under section 43B of the Income Tax Act 1961.
Ajay Engineering and Agricultural Equipment Company Vs PCIT (ITAT Pune) ITAT Pune held that AO did not specifically discuss the five issues in the assessment order, however, assessment order does not satisfy the second condition of being prejudicial to the interest of the Revenue. Simply non-discussion of an issue in assessment order does not render […]
ITAT Pune held that expenditure incurred on repairs and renovation of the asset is revenue expenditure as no new asset has been created.
