S. 45 : Capital gains-Business income-Developer-Sale of land after gap of a decade-Profits assessable as capital gains-Entitle for exemption. [S. 28(i), 54F]
Mujib Salmanbhai Pathan v. ACIT (2021) 190 ITD 562 (Nagpur)(Trib.)S. 45 : Capital gains-Business income-Developer-Sale of land after gap of a decade-Profits assessable as capital gains-Entitle for exemption. [S. 28(i), 54F]
Mujib Salmanbhai Pathan v. ACIT (2021) 190 ITD 562 (Nagpur)(Trib.)S. 43CB : Construction and service contracts-Percentage completion-Project completion method-Both duly recognized methods of accounting under construction contracts for relevant assessment year. [S. 145]
Trident Estate (P.) Ltd. v. ITO (2021) 190 ITD 364 (Mum.)(Trib.)S. 43CA : Transfer of assets-other than capital assets-Full value of consideration-stock in trade-Agreement value-Stamp valuation-Sale of flats with customer prior to 1-4-2013-Sale deed was executed after 1-4-2013-Provision is applicable [S. 50C]
Spytech Buildcon v. ACIT (2021) 190 ITD 325 (Jaipur)(Trib.)S. 43B : Deductions on actual payment-Late deposit of employee contribution towards ESIC/EPF-Payment was made before due date of filing of return-Allowable as deduction-CIT (A) was not justified in denying deduction by relying upon non-jurisdictional High Court’s decision. [S. 36(1)(va), 144B, 250]
Mahadev Cold Storage v. Jurisdictional Assessing Officer (2021) 190 ITD 273 / 212 TTJ 891 / 205 DTR 145 (Agra)(Trib.)S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Purchases-Not claimed as expenditure-Matter remanded.
Kumar Properties and Real Estate (P.) Ltd. v. DCIT (2021) 190 ITD 212 / 87 ITR 69 (SN) / 212 TTJ 227 / 212 DTR 425 (Pune)(Trib.)S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Advance against sale of property-Continued to remained as liability in the balance sheet-Addition cannot be made as cessation of liability.
ACIT v. Ashish Indur Chowdhry (2021) 190 ITD 435 (Mum.)(Trib.)S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Real estate developer-Purchase of agricultural land-Disallowance was held to be not justified. [R. 6DD(e)(i)]
Mohammed Ali Shaik v. ITO (2021) 190 ITD 771 /(2022) 211 DTR 94 / 216 TTJ 94 (Vishakha)(Trib.)S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Pond and farm maintenance expenses-No evidence was produced to prove that the payments had been made to cultivator, grower or produced-Disallowance was confirmed. [R. 6DD(e)]
Oceanic Bio Harvest Ltd. v. DCIT (2021) 190 ITD 765 (Chennai)(Trib.)S. 40(b)(iv) : Amounts not deductible-Partner-Interest-Pro-rata basis-Average opening and closing balance. [S. 36(1)(iii), 37(1)]
Universal Stone Crushing Co. Dala v. ITO (2021) 190 ITD 415 (SMC) (All.)(Trib.)S. 40(a)(ii) : Amounts not deductible-Rates or tax-Education cess-Allowable as deduction [S.37 (1)]
Metropolis Healthcare Ltd. v. DCIT (2021) 190 ITD 331 (Delhi) (Trib.)