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 April 2017 Year 2017 This

Nature of Land - assessee has erred in disclosing the land ...

Income Tax

April 8, 2017

Nature of Land - assessee has erred in disclosing the land earmarked for promoting software park in the financial system of stock-in-trade - it is genuine mistake of the assessee in recording the financial statements cannot be seriously viewed in interpreting the provisions of the Income-tax Act. - HC

View Source

 


 

You may also like:

  1. 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...

  2. Nature of land sold - sale of agricultural land or not - it is nowhere necessary for an assessee to prove carrying out actual agricultural activity of the land

  3. Nature of expenses - land registration charges - land taken over rent / lease - revenue or capital expenditure - The assessee cannot enjoy that property forever under a...

  4. Nature of land sold - distance from the limits of municipality - agricultural land - ITAT manifestly erred in remanding the matter to the Assessing Authority instead of...

  5. Prohibition on export of rice under tripartite agreements - debarment is never permanent and the period of debarment invariably depends upon the nature of the offence...

  6. Exemption from GST - Supply of biscuits, soaps etc. earmarked ‘FOR PDS SUPPLY ONLY’ to fair price shops/PDS distributors - Supply of goods through PDS is not exempted

  7. Depreciation @ 10% on landscaping & development charges which is capitalized in nature of land allowed - AT

  8. Nature of income in the hands of land developer (vendor) - third party agreement with land owner - the receipt would attract capital gains at his hands - HC

  9. Addition under the head ‘income from capital gains’ - when the assessee has relinquished her right in the land earmarked for common utility purpose in terms of...

  10. Capital gain on sale of land - Nature of land - it is undisputed fact that assessee has sold agricultural land on which he was carrying out agricultural activities prior...

 

Quick Updates:Latest Updates