Home Highlights December 2010 Year 2010 This

You may also like:

1. Method of accounting u/s 145 - construction activity - PCM followed by the assessee was the right method of accounting for determining the taxable income of the assessee - AT

2. Addition on account of lump-sum lease charges received - lease transaction does not give an absolute ownership or title as it can be cancelled and re-entered - assessee...

3. Enhanced Compensation – Interest on enhanced compensation - Waiver of Interest - assessee was entitled for waiver of interest till the date of receipt of enhanced...

4. Addition u/s 43B - Method of accounting - unpaid statutory dues of service tax, Excise and PF by changing the method of accounting - The assessee followed the exclusive...

5. Depreciation on Goodwill - inflated value of goodwill - the assessee has followed a different method for accounting goodwill in books of accounts, so as to claim higher...

6. TP Adjustment - ALP is determined by TPO by not applying any method at all or by choosing a method which is not prescribed u/s.92C(1) of the Act, then such a...

7. Disallowance on account of valuation of stock u/s 145A - assessee is following exclusive method of accounting for valuing closing stock wherein unutilised MODVAT/Cenvat...

8. Rejection of books of account - Correct method of accounting - following cash system of accounting instead of accrual method of accounting - He has not cared to discuss...

9. Rejection of books of accounts - recognition of income - Development of housing project - assessee has not followed percentage completion method as per the Guidance Note...

10. Interest received on compensation/enhanced compensation u/s 28 and 34 of the Land Acquisition Act - The compensation being exempt u/s 10(37) of the Act is not disputed....

11. Enhancement made by the Ld. CIT(A) u/s 251(1) r.w.s. 56(2) (viib) - AO substituted fair market value determined by the assessee through his own valuation - Assessees...

12. Characterization of receipt - interest received by the assessee u/s 28 and 34 of the Land Acquisition Act, 1894 - The Delhi High Court, in a case concerning the...

13. Determination of income - The Tribunal agreed with the Ld. CIT(A)'s finding that the assessee, a real estate developer, has consistently followed the Project Completion...

14. Addition u/s.56(2)(vii)(b) - share premium - difference between the issue price and the actual share price determined by the AO - AO has changed the method of valuation...

15. Profit in the business of development - method of determining the profit - Merely because assessee had followed an unrecognised method to compute taxable income in the...