Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Allowance of depreciation on cars given on hire, treatment of interest paid on loans for purchase of plot as part of cost of acquisition for computing capital gains, recalculation of income from house property, and allowance of long-term capital loss on sale of land. The Income Tax Appellate Tribunal (ITAT) provided directions to the Assessing Officer regarding the appropriate treatment of these issues, such as allowing higher depreciation rate on hired cars, including interest as part of cost of acquisition, deleting additions made for rental income under house property, and allowing the claimed long-term capital loss on sale of land. The summary outlines the ITAT's rulings on these matters, providing clarity on the correct application of tax provisions.
Allowance of depreciation on cars given on hire, treatment of interest paid on loans for purchase of plot as part of cost of acquisition for computing capital gains, recalculation of income from house property, and allowance of long-term capital loss on sale of land. The Income Tax Appellate Tribunal (ITAT) provided directions to the Assessing Officer regarding the appropriate treatment of these issues, such as allowing higher depreciation rate on hired cars, including interest as part of cost of acquisition, deleting additions made for rental income under house property, and allowing the claimed long-term capital loss on sale of land. The summary outlines the ITAT's rulings on these matters, providing clarity on the correct application of tax provisions.
Note: It is a system-generated summary and is for quick reference only.
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