ITAT noted that company’s primary objective was providing IT services, not letting out properties. Therefore, it upheld Assessing Officer’s decision to treat rental income as income from house property and disallow depreciation claimed by company.
Explore the case of Center for International Admission and Visas (CIAV) in Telangana. Understand if CIAV’s services qualify as ‘intermediary’ and if it’s liable for GST.
Expenditure incurred by assessee should be disallowed to the extent that expenditure which had been incurred for evaluation of business opportunities that could not be said to be in line with the existing business or an extension of the existing business of assessee of manufacturing of paints and enamels.
Appellant contended that since he had filed income tax returns under section 44AD of the Act, which does not require maintenance of books of account, section 69A was not applicable.
Rejection of grant under Section 80G merely on procedural lapse by making application under Section 80G(5)(ii) inadvertently instead of Section 80G(5)(iii) by assessee is not acceptable: ITAT Ahmedabad
Delhi High Court directs Directorate of Revenue Intelligence to consider and dispose of the application for release of gold bars seized over alleged lack of invoices within two weeks.
Bombay High Court ruling states that capital gain tax is not applicable on the transfer of shares as a gift. Detailed analysis and judgment explanation provided.
Read about HUDA Urban Estates challenge against the modification of the GST Act’s definition of ‘person.’ Punjab and Haryana High Court issues notice and stays show cause notice.
ITAT referred to principle that expenses are allowable in year of crystallization of their liability, even if they relate to an earlier period. It held that expenses crystallized in current assessment year are deductible, regardless of when they were incurred.
Gujarat High Court held that Notified Area Authority, Vapi, did not meet criteria to be classified as a local authority or governmental authority so not allowed for
