Fixed assets demolished A company (say Company X) is engaged in development, operation and maintenance of a hospital. The company wants to increase the number of beds in the hospital which requires demolition of certain part of the hospital. The demolition shall be that of building structure, furniture and fittings and other assets. The demolition… Read More »
Assessing Officer cannot refer international transactions for determination of ALP that were carried on in any of past years and whose assessments had already been completed IN THE ITAT MUMBAI BENCH ‘K’ Perstorp Chemicals India (P.) Ltd. v. Income-tax Officer, 10(2)(3), Mumbai D. MANMOHAN, VICE-PRESIDENT AND B.R. BASKARAN, ACCOUNTANT MEMBER IT APPEAL NOS. 6078,6079 AND… Read More »
While determining annual letting value in respect of properties which are subject to rent control legislation and in cases where standard rent has not been fixed, Assessing Officer shall determine same in accordance with relevant rent control legislation HIGH COURT OF BOMBAY Vimal R. Ambani v. Deputy Commissioner of Income-tax S.C. DHARMADHIKARI AND A.K.… Read More »