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...
ITAT held that the assessee had actually declared dividend of Rs. 22.67 crores and paid DDT of Rs. 4.61 crores thereon, and that the higher figure of Rs. 27.26 crores in the ROI was an inadvertent inclusion of DDT in the dividend figure. ITAT noted that the assessee had substantiated this with financial statements before CPC and the AO, and that the AO's reliance solely on the ROI figure was unjustified. The addition made towards excess DDT liability was therefore held to be unsustainable and directed to be deleted. On depreciation for assets acquired pursuant to demerger from a state entity, ITAT followed its earlier years' decisions and upheld the assessee's depreciation claim, allowing the appeal.
ITAT held that the assessee had actually declared dividend of Rs. 22.67 crores and paid DDT of Rs. 4.61 crores thereon, and that the higher figure of Rs. 27.26 crores in the ROI was an inadvertent inclusion of DDT in the dividend figure. ITAT noted that the assessee had substantiated this with financial statements before CPC and the AO, and that the AO's reliance solely on the ROI figure was unjustified. The addition made towards excess DDT liability was therefore held to be unsustainable and directed to be deleted. On depreciation for assets acquired pursuant to demerger from a state entity, ITAT followed its earlier years' decisions and upheld the assessee's depreciation claim, allowing the appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
