-
Sec. 35D provides amortization of certain capital / preliminary expenditure incurred by the Assessee. Therefore, ROC expenditure u/s 35D is allowed.
Ocimum Bio Solutions India Ltd Vs Dy. Commissioner of Income-tax
(2022) TaxCorp(LJ) 28299 (ITAT-HYDERABAD) · Section 35D
-
The Assessee has already offered the rental income under the head house property. Therefore, assessee is allowed to claim all eligible deductions including interest on borrowed capital.
Hima Bindu Putta Vs ITO
(2022) TaxCorp(LJ) 28281 (ITAT-HYDERABAD) · Section 24
-
A loan accepted as correct in principle, could not be treated as amount received since there is a pre-condition of its return to be made to the creditor party.
Hajeebu Venkata Seeta Vs The Income Tax Officer
(2022) TaxCorp(LJ) 28270 (ITAT-HYDERABAD) · Section 56(2)(vi)
-
Once addition was made under one provision, it cannot be made under another provision.
Autozilla Solutions Pvt. Ltd Vs Income-tax Officer
(2022) TaxCorp(LJ) 28265 (ITAT-HYDERABAD) · Section 56(2)(viib)
-
For the purpose of calculation of capital gains u/s 48 the fair market value of the assessee on the date of such conversion or treatment shall be deemed to be the full value of the consideration received or accruing as a result of the transfer of the capital asset.
M/S. KYORI INFRASTRUCTURE PVT LTD. VERSUS DCIT, CIRCLE-2 (1) , HYDERABAD
(2022) TaxCorp(LJ) 28264 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95285&Category=ITAT&CategoryType=Zip
-
Operational loss computed by the assessee coming under the purview of principle of mutuality cannot enter the computation of total income as envisaged u/s.2(45) of the Act.
SECUNDERABAD CLUB, HYDERABAD VERSUS INCOME TAX OFFICER, WARD-10 (2) , HYDERABAD
(2022) TaxCorp(LJ) 28261 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95290&Category=ITAT&CategoryType=Zip
-
Assessee is not registered U/s. 12A of the Act. In such circumstances, the assessee would be disentitled to enjoy the benefit of section 11 of the Act.
CHURCH OF CHRIST, HYDERABAD. VERSUS INCOME TAX OFFICER (EXEMPTIONS) -4, HYDERABAD.
(2022) TaxCorp(LJ) 28237 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95196&Category=ITAT&CategoryType=Zip
-
From the factual matrix of the issue it is crystal clear that identity, creditworthiness and genuineness of the entities who had infused money into the assessee company are established.
Bramhani Industries Limited Vs DCIT
(2022) TaxCorp(LJ) 28233 (ITAT-HYDERABAD) · Section 68
-
As per the provisions of the Act, notional gain or profit cannot be taxed unless it has crystalized.
BRAMHANI INDUSTRIES LIMITED VERSUS DCIT, CIRCLE-1 (3) , HYDERABAD. AND (VICE-VERSA)
(2022) TaxCorp(LJ) 28181 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95045&Category=ITAT&CategoryType=Zip
-
We allow the grounds raised by the assessee with regard to inflated expenditure by way of sub-contract payments in all the appeals under consideration.
MADHUCON PROJECTS LTD., HYDERABAD. VERSUS DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE – 3, HYDERABAD.
(2022) TaxCorp(LJ) 28135 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=94928&Category=ITAT&CategoryType=Zip
-
The receipt of share premium could not be treated as income under Section 56(1).
Jagati Publications Limited Vs ACIT
(2022) TaxCorp(LJ) 28099 (ITAT-HYDERABAD)
-
Since the society is not registered u/s 12A/12AA of the Act, in our considered view, the AO/CPC has right in making the addition treating the corpus fund receipts/donations as income.
BHAGAWAN SREE MAHAYOGI LAKSHMAMMA EDUCATIONAL SOCIETY, ADONI. VERSUS INCOME-TAX OFFICER, WARD – 2, KURNOOL
(2021) TaxCorp(LJ) 28073 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=94813&Category=ITAT&CategoryType=Zip
-
The provisions of section 68 of the Act are not applicable in respect of addition in the facts and circumstances of the instant case.
M/S. JAGATI PUBLICATIONS LIMITED VERSUS ACIT, CIRCLE 2 (1) HYDERABAD
(2021) TaxCorp(LJ) 28037 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=94740&Category=ITAT&CategoryType=Zip
-
ITAT - Admissions or confessions made during survey did not carry any evidentiary value and additions can be made based on evidence only.
Legend Developers & Constructions Vs Assistant Commissioner of Income Tax
(2021) TaxCorp(LJ) 27846 (ITAT-HYDERABAD)
-
ITAT - Siphoned off amount from the company cannot be considered as accretion to the wealth within the meaning of section 2(ea)(vi) of the Wealth Tax Act.
B.Ramalinga Raju Vs Asst. Commissioner of Wealth Tax
(2021) TaxCorp(LJ) 27408 (ITAT-HYDERABAD)
-
ITAT - Claim for set-off of interest expenditure on borrowed funds against income from investment of borrowed funds allowed.
Hinduja National Power Corporation Limited Vs DCIT
(2021) TaxCorp(LJ) 27333 (ITAT-HYDERABAD)
-
ITAT- As the subsidy received by the assessee in the form of refund of sales tax paid from the Sate Govt of AP is to be treated as revenue receipts.
JCIC (OSD), CENTRAL CIRCLE-1 (4) , HYDERABAD. VERSUS MEDHA SERVO DRIVES PRIVATE LIMITED, HYDERABAD.
(2021) TaxCorp(LJ) 27117 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=91636&Category=ITAT&CategoryType=Zip
-
If there is a difference in the value of the property as determined by the assessee and the SRO value, the AO is bound to refer the matter to the DVO and the assessment should be done on the basis of DVO report.
CHANDRA LOK HOTELS LTD., HYDERABAD. VERSUS DY. COMMISSIONER OF INCOME-TAX, CIRCLE – 1 (2), HYDERABAD.
(2021) TaxCorp(LJ) 27098 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=91618&Category=ITAT&CategoryType=Zip
-
Order of the Ld. CIT (A) to be de void of merit because he has not given a categorical finding as to why the provisions of section 40A(3) of the Act would not be attracted in the case of the assessee.
INCOME TAX OFFICER, WARD-3, KADAPA VERSUS M/S. MAYURI CONSTRUCTIONS
(2021) TaxCorp(LJ) 27045 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=91366&Category=ITAT&CategoryType=Zip
-
There is no merit in Revenue’s preceding arguments.
DY. CIT, CIRCLE 2 (2) HYDERABAD, ITO, WARD 2 (2), HYD VERSUS M/S GLOBAL ALUMINIUM PVT. LTD. SECUNDERABAD
(2021) TaxCorp(LJ) 26920 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=90821&Category=ITAT&CategoryType=Zip
Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.