Tag Archives: IN THE ITAT PUNE BENCH

Lump-sum receipt for extinguishing development rights across entire land parcel is fully deductible against capital gains.

By | June 30, 2026
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Lump-sum receipt for extinguishing development rights across entire land parcel is fully deductible against capital gains. Issue Whether the sum of Rs. 33 crores received by the assessee was a global settlement for extinguishing his entire bundle of rights across the whole 35,600 sq. mtrs. of land—constituting a “transfer” under Section 2(47)—entitling him to claim… Read More »

Assessing Officer directed to exclude Mutual Funds and Tax Free Bonds from Section 14A calculations.

By | June 24, 2026
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Assessing Officer directed to exclude Mutual Funds and Tax Free Bonds from Section 14A calculations. Issue Whether the Assessing Officer, while computing the indirect expense disallowance under Section 14A read with Rule 8D(2)(ii), must exclude investments made in Mutual Funds and Tax Free Bonds from the average value of investments. Whether any further disallowance can… Read More »

Tribunal rules primarily for assessee on onsite profits, exempt income disallowance, goodwill depreciation, and FTC, but mandates allocation of interest expenditure.

By | June 19, 2026
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Tribunal rules primarily for assessee on onsite profits, exempt income disallowance, goodwill depreciation, and FTC, but mandates allocation of interest expenditure. Tribunal rules primarily for assessee on onsite profits, exempt income disallowance, goodwill depreciation, and FTC, but mandates allocation of interest expenditure. Issue Whether the various additions and disallowances made by the Assessing Officer concerning… Read More »