Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Disallowance of loss of trading in commodity exchange - set off of loss - there is no finding by both the lower authorities challenging the genuineness of the commodity trading transactions entered during the year - It is true that it has been disclosed under head income from other source but according to Section 71(1) of the Act assessee is entitled to set off from income under the head Business & profession and income from other sources
Disallowance of loss of trading in commodity exchange - set off of loss - there is no finding by both the lower authorities challenging the genuineness of the commodity trading transactions entered during the year - It is true that it has been disclosed under head income from other source but according to Section 71(1) of the Act assessee is entitled to set off from income under the head Business & profession and income from other sources
Note: It is a system-generated summary and is for quick reference only.
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