section 14A

Section 14A Not to Apply if No Exempt Income Received , Special Bench...

After five years of wait , finally , ITAT Special Bench order in case of Cheminvest Ltd vs CIT 121 ITD 318 (Delhi) (SB)...
disallowance u/s 40(a)(ia)

Disallowance u/s 40(a)(ia) or Demand u/s 201 Can’t be Resorted for Non Filing of...

Disallowance  u/s 40(a)(ia) is provided if the  expenditure is related to a provision under which tax was deductible and either tax was not deducted...
depreciation on building

Is Depreciation Allowable on a Building Given on Rent during the Year ?

It happens that a business entity having certain buildings as business asset , is rented out during the year . Say a business entity...
section 50

Section 50 Not Applicable if No Depreciation Was Claimed on Business Asset !

In case of sale of business assets on which depreciation under section 32  is available and claimed   , there is special provision under section...
Agriculture Commodities Derivatives

Trading in 61 Agriculture Commodities Derivatives Now Speculative !

You must be aware that there is no transaction tax on the notified agriculture commodities trading by virtue of sub-section 7 of section 116...
taxation of subsidies

What Is The Rule Of Taxation Of Subsidies?

The taxation of  subsidies depends upon the nature and circumstances under which the subsidy is given by governments from public accounts money. This is...
msme

Are There Exclusive Income Tax Incentive for MSME Sector ?

MSME or Micro , Small & Medium Enterprise words are in vogue these days a lot . Ministers and even our beloved PM has...
section 40A(2)

Section 40A(2) : A.O Can’t Disallow Expenditure on His Whims & Fancy

Section 40A(2) of the Income Tax Act provides power to assessing officer to examine payments by a business entity for being excessive or unreasonable...

80% Depreciation on Windmills & Devices Based on Wind Energy Installed After 01/04/2014

CBDT has notified that the assessee who installed before 1st April 2004  any windmills and devices running on wind energy can claim depreciation @...
lease premium

Is Lease Premium for Acquiring Land a Capital or Revenue Expenditure?

The lease premium is charged for most of the government or semi government organization for allotting land or building to be allotted for various...
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