Daily Archives: September 20, 2021

Assets purchased for showroom of dealer for promoting sale is allowed as Capital Expenditure : High Court

By | September 20, 2021
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HIGH COURT OF KERALA Apollo Tyres Ltd. v. Deputy Commissioner of Income-tax, Circle 1(1), Ernakulam S.V. BHATTI AND BECHU KURIAN THOMAS, JJ. IT APPEAL NO. 26 OF 2013 JULY  29, 2021 Joseph Markose, Sr. Counsel, V. Abraham Markos, Binu Mathew, Mathews K. Uthuppachan, Terry V. James and Tom Thomas Kakkuzhiyil, Advs. for the Appellant. P.K.R. Menon and Jose Joseph and Christopher Abraham for the Respondent. S.V.Bhatti, J. Heard learned Senior… Read More »

Compensation paid to tenant for surrender of land is allowed as deduction from Capital Gains : High Court

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HIGH COURT OF KARNATAKA Trimm Exports (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle – 12(4), Bangalore ALOK ARADHE AND HEMANT CHANDANGOUDAR, JJ. IT APPEAL NO. 43 OF 2017 JULY  13, 2021 A. Shankar, Sr Counsel, V. Chandrashekar and M. Lava, Advs. for the Appellant.K.V. Aravind for the Respondent. JUDGMENT Alok Aradhe, J. – This appeal under section 260-A of the Income-tax Act,… Read More »

Maintenance charges received from tenants for property taxable as business income : ITAT

By | September 20, 2021
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IN THE ITAT DELHI BENCH ‘A’ Deputy Commissioner of Income-tax, Circle-3(1), New Delhi v. Arham IT Infrastructure (P.) Ltd. N.K. BILLAIYA, ACCOUNTANT MEMBER AND K.N. CHARY, JUDICIAL MEMBER IT APPEAL NO. 5300 (DEL) OF 2016 [ASSESSMENT YEAR 2013-14] JULY  27, 2021 Jagdish Singh, Sr. DR for the Appellant. Sudesh Garg, Adv. for the Respondent. ORDER N.K. Billaiya, Accountant Member. –… Read More »

De-Activation of IECs not updated on the DGFT

By | September 20, 2021
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Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi Dated: 20thSeptember 2021 Trade Notice 18/2021-2022 To, 1.All IEC Holders/Members of Trade 2.DGFT Regional Authorities 3.Export Promotion Councils/Commodity Boards/ other Industry Associations Subject: De-Activation of IECs not updated on the DGFT   This Trade Notice… Read More »

Assessment in the name of dead person not valid : High court

By | September 20, 2021
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HIGH COURT OF GUJARAT Bhupendra Bhikhalal Desai v. Income Tax Officer, Ward 1(2)(1) J.B. PARDIWALA AND ILESH J. VORA, JJ. R/SPECIAL CIVIL APPLICATION NOS. 22441, 22444 & 22474 TO 22478 OF 2019 MARCH  8, 2021 Darshan R. Patel for the Petitioner. M.R. Bhatt, Sr. Adv. and Mrs. Mauna M Bhatt for the Respondent. JUDGMENT J.B. Pardiwala, J. – Rohinton Fali Nariman,… Read More »