Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2014 Year 2014 This

Deduction u/s 37 – assessee was compulsorily required to build a ...

Income Tax

June 4, 2014

Deduction u/s 37 – assessee was compulsorily required to build a new shop on land which was not his own property - Expenses on premises taken on lease towards repairs, fixtures etc. allowed as revenue expenditure - HC

View Source

 


 

You may also like:

  1. Nature of expenditure on construction of building on leasehold land - the lessor does not own the building and the assessee cannot own the same as capital asset since...

  2. Long term capital gain (LTCG) - compulsory acquisition of land - the said land owned by the assessee is an agricultural land and was used for the purpose of agriculture...

  3. Exemption u/s 10(37) - Assessee has received compensation on compulsory acquisition of urban agricultural land - Once sufficient material is placed that land was...

  4. Capital gain computation - assignment of lease rights in the shop - As sec. 50C applies only to a capital asset, being land or building or both, it cannot be made...

  5. Amount paid to the tenants for evicting the shops while computing gains earned by assessee on sale of shops allowed as deduction - AT

  6. Allowable expenditure u/s 37(1) - addition relating to form fees which was deposited for obtaining the wine shop through government - non-accepting the theory of...

  7. Deduction u/s 10(37) - sale of agricultural land - the land was agricultural land and was being used for agricultural operations prior to the date of acquisition during...

  8. Disallowance of deduction u/s 54G - there is no requirement that the land and building should be used for the purpose of the business of industrial undertaking - AT

  9. Allowable deduction in computing the capital gains - Expenditure wholly and exclusively in connection with the transfer of the property - There was no mentioning of any...

  10. Disallowance of depreciation on building improvement - the assessee is not entitled to the claim of depreciation on such improvements to the land and building for more...

 

Quick Updates:Latest Updates