Tag Archives: Asst. Commissioner of Income-tax

Temporary site-specific infrastructure expenditure for contract execution constitutes allowable revenue expenditure under Section 37(1).

By | September 11, 2026
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Temporary site-specific infrastructure expenditure for contract execution constitutes allowable revenue expenditure under Section 37(1). Issue Whether expenditure incurred on site-specific and temporary items like rollers, structures, scrap rails, conveyor belts, and ventilation ducting for executing a civil EPC contract is allowable as revenue expenditure under Section 37(1) or must be treated as capital expenditure providing… Read More »

Addition for House Property Fixed at Disclosed Value, FDR Addition Restricted to Investment Amount, and Telescoping Denied

By | August 18, 2026
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Addition for House Property Fixed at Disclosed Value, FDR Addition Restricted to Investment Amount, and Telescoping Denied Issue Whether the Tribunal was justified in estimating house property value at ₹85 lakhs over the disclosed ₹70 lakhs, denying telescoping benefit for unaccounted cash, and taxing FDR maturity values instead of actual investment amounts during block assessment.… Read More »

Development Fee Allegations and Technical Violations Cannot Disqualify Registered Educational Trust from Section 11 Exemption

By | July 27, 2026
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Development Fee Allegations and Technical Violations Cannot Disqualify Registered Educational Trust from Section 11 Exemption Issue Whether a registered educational trust can be denied exemption under Sections 11 and 12 on allegations of collecting capitation fees, claiming pre-AY 2015-16 depreciation, or acquiring assets via loans prior to receiving compensation under Section 11(1A). Facts Charitable Activity… Read More »