Allowance of interest - The land on which the assessee is ...

Income Tax

October 25, 2013

Allowance of interest - The land on which the assessee is constructing the building is to be treated as business asset of the assessee company - Allowed the claim of the assessee towards the interest and processing charges incurred on loan. - interest allowed u/s 37(1) - AT

View Source

← Previous Next →

Allowance of interest - The land on which the assessee is ...

Income Tax

October 25, 2013

You may also like:

Capital asset or Business asset - assessee had purchased the land for the purpose of constructing flats on it - Various reasons given by CIT(A) to treat the land as...

Correct head of income - The same land when assessee in case, decided to continue with the film production, will be used for the assessee’s business as business asset....

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...

Allowance of depreciation - depreciation on toll road as building - ownership of the assets - depreciation allowed - AT

Correct head of income - income earned out of sale of property - business income or capital gains - when the asset was converted into stock-in-trade - the assessee has...

Correct head of income - Business Income or capital gain - assessee decided to sale the agriculture land, due to compulsion, hence assessee cannot be treated as a trader...

When there is a transfer of capital asset being land together with building and where the land is held for a period of more than 36 months and the building held for less...

Surplus earned on the sale of plot - ‘capital gain‘ OR ‘business income’ - There is no clause in the partnership deed about making investment in the land and to earn...

Correct head of income - LTCG OR Business income - engaged in the business of building construction and land developers - land shown in balance sheet as investment - it...

Nature of land sold - Capital asset u/s 2(14) or agricultural land - If both the conditions are present then it would not be agricultural land and would be treated as...

Capital Gains - Cost of construction and indexation disallowed – proof of construction of building on land - If the examination of balance sheets reveals that there was...

LTCG - capital assets OR agricultural land - at the time of sale the assessee’s land was more than 8 KMs away from the local limits of Municipal Council - assessee’s...

Correct head of income - treatment of profit on transfer of immovable properties - The assignment of debt in favour of another entity partly in exchange of land was...

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...

Profits arising on sale of land - ‘business income’ OR 'capital gains' - after purchase of land assessee got if converted to NA land - the assessee also got a lay out...

Quick Updates: