Disallowance of interest paid - if the land is treated as ...

Income Tax

October 22, 2015

Disallowance of interest paid - if the land is treated as stock-in-trade, the entire interest on the loan used to purchase the land to be treated as revenue expenditure if the loan is genuine. - AT

View Source

← Previous Next →

Disallowance of interest paid - if the land is treated as ...

Income Tax

October 22, 2015

You may also like:

Long Term Capital Gains - claim of conversion of agriculture land into stock-in-trade - The assessee was required to disclose such lands as stock in trade in books of...

Broken period interest for the purchase of securities - the securities formed part of the stock in trade and therefore, the broken period interest paid should be allowed...

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

JDA - Proof of conversion of land into stock-in-trade - though the sale is more than One Crore, no Audit Report is filed by the assessee. No Balance Sheet has been filed...

Validity of Revision u/s 263 by CIT - As per PCIT AO omitted to examine the transaction of transfer of land held as “Stock-in-trade” in the light of the provision of...

Land which was converted to stock in trade the same was not eligible for imposition of wealth tax - AT

Real estate companies can also hold separate port folio of land as stock in trade and as investment port folio; the sale of investment portfolio is always taxed as...

Treatment of income – land sold by the assesses was stock-in-trade of the dissolved firm - Tribunal had no material to come to the conclusion that the land sold by the...

Conversion of land into Stock in Trade - Set off of brought forward losses - It was only the profit arising from sale of stock in trade that could be treated as profits...

investments made by the banking company should be treated as a business asset of the banking company or stock-in-trade - AT

Quick Updates: