S. 28(iv) : Business income-Value of any benefit or perquisites-Converted in to money or not-Receipt of capital asset from holding company-Enhanced profit would be eligible deduction u/s. 10A-Issue left open. [S. 10A, 69]
S. 28(iv) : Business income-Value of any benefit or perquisites-Converted in to money or not-Receipt of capital asset from holding company-Enhanced profit would be eligible deduction u/s. 10A-Issue left open. [S. 10A, 69]
S. 28(i) : Business loss-Sale of shares-Disallowance of loss was deleted.
S. 28(i) : Business loss-Derivative contracts-Futures and options-Interim report of SEBI-Loss in trading from stock option-Loss allowable as business loss.
S. 28(i) : Business income-Redemption of debentures-Amount earned on redemption of debentures by company in which investment was made, would be taxable as business income-Proportionate revenue-Net amount received is held to be taxable. [S. 145]
S. 23 : Income from house property-Annual value-Stock in trade-Fair market value-Used for the purpose of business-Addition cannot be made on the basis of notional annual value.[S. 22]
S. 17(2) : Perquisite-Salary-Medical allowance-Fixed medical allowance was given-No proof of medical expenditure was furnished-Taxable as salary income. [S. 15]
S. 14A : Disallowance of expenditure-Exempt income-Investments in Indian companies which did not yielded exempt dividend income-Excluded while computing disallowance. [R. 8D(2)(iii)]
S. 14A : Disallowance of expenditure-Exempt income-Recording of satisfaction-suo motu disallowance-Satisfaction cannot be on the basis of mechanism of Rule 8D itself. [S. 14A(2), R. 8D]
S. 14A : Disallowance of expenditure-Exempt income-No exempt income-No disallowance can be made.[R. 8D]
S. 14A : Disallowance of expenditure-Exempt income-Own funds exceed amount of investment-Interest expense incurred cannot be disallowed. [R. 8D]