Home Highlights October 2014 Year 2014 This

You may also like:

1. Wealth tax - the commercial asset used by the assessee substantially and partly given on lease are not business assets and thus includible into the 'net wealth' u/s...

2. Valuation of money market and debt securities

3. Business premises let out - Whether assessable as assets under section 2(ea) of Wealth tax or not - premises were not covered by exclusions provided under section 2(ea)(i) - AT

4. Determination of net wealth of assessee - Renting of property - once the rental income from the property is treated as “business income” and the character of the asset...

5. Loss on revaluation of security - securities maintained as per RBI Guidelines - only 30% treated as stock in trade - 70% treated as long term asset - HC

6. Deduction of bad debt written off u/s. 36(i) (vii) - lease rental - the prospects of recovery of lease rentals were quite bleak and the assessee considering that the...

7. CIRP process - security deposit and/or intercorporate deposit - Whether this ‘Security Deposit’ and the interest thereon would fall within the ambit of the definition of...

8. Disallowance of depreciation in respect of asset given on lease - the lessee has been given only right to use the asset for the terms of the lease on payment of...

9. Capital Gain or business income - surplus on sale of shares and securities - the assessee has maintained distinction between trading assets and nontrading assets and has...

10. Exclusion from wealth tax - value of the assets used for the purpose of earning lease rent income - decision is the tribunal treating the same is business income is not wrong - HC

11. Inclusion of assets in to the the net wealth of the assessee (Individual) - whether assets are belonging to bigger HUF - AO directed to make addition of assets in the...

12. Claim of Interest u/s.36(1)(iii) - security deposits paid to director’s wife for taking her bungalow on lease - The said property had been taken on lease by the assessee...

13. Inclusion of let out property in the wealth tax assessment - scope and ambit of wealth tax u/s 2(ea)(i)(5) - wealth tax is not to be levied on productive assets - AT

14. Assets given on lease and returning back to the assessee and again given on lease depreciation is required to be allowed once the assets purchased in the earlier year...

15. Exemption from wealth-tax in respect of assets specified in declaration - THE INCOME DECLARATION SCHEME, 2016