Judgements and Orders, Supreme Court and High courts of India

Interest on Non-perfoming assets ::

CA.Saibaburao Nanduri 07 October 2007 at 20:07

Held by the Hon`ble Court that, the principle of accrual comes in to play only when income is recognised, income from non-performing assets in consonance with notification issued by R.B.I. and A.S. 9 issued by the I.C.A.I. will be taxable in the appr

Posted in Income Tax | 78 Views

Income from housing property or Income from business ::

CA.Saibaburao Nanduri 07 October 2007 at 14:42

Held by the Hon`ble Bench that, neither the construction of hotel is completed nor the hotel business is commenced. Therefore rental income received by the assessee is not assessable under the head " Income from business".

Posted in Income Tax | 55 Views

Section 11(2)

CA.Saibaburao Nanduri 06 October 2007 at 16:11

Held by the Hon`ble Court that, a perusal of the annual report and overview of the projects clearly shows that the projects were in consonance with the objectives sought to be achieved by the assessee, which were for the benefit of adolescent girls a

Posted in Income Tax | 94 Views

CIT(A) enhancing assessed income without notice:

CA Nikita 06 October 2007 at 00:07

Posted in Income Tax | 135 Views

LTCG-Double benefit or additional relief is not a taboo under the law : Advance Ruling

CA Nikita 06 October 2007 at 00:07

Posted in Income Tax | 109 Views

Capital Or Revenue Expenditure ::

CA.Saibaburao Nanduri 05 October 2007 at 13:14

Held by the Hon`ble Court that, explanation 1 of section 32(1) does not apply in a case of construction on the land which is taken on lease by the assessee, assessee did not acquire a capital asset but had put up a construction of the building only f

Posted in Income Tax | 76 Views