ITAT Mumbai bench held that prepayment charges and processing fee made for purpose of availing loan at lower interest cost are allowable under section 24(b). Peepul Tree Properties (P.) Ltd. v. Assistant Commissioner of Income tax. [2016] 71 taxmann.com 332
Income derived from flowers and petals grown in plots held as agricultural income
The High Court of Madras held that where assessee, a landscaping architect, declared income der
Exp. on issue of bonus shares should be allowed as revenue exp, rules Bombay HC
The High Court of Bombay held that expenses incurred for issue of bonus shares are to be allowed
Duty drawback benefit extended for home textile
In a boost to the home textile segment, the government has extended a five per cent duty drawback
Chapter VI-A deduction on enhanced profits
CBDT has accepted the settled position of the various cases settled by Gujarat High Court, Bomb
Procedure for registration and submission of Statement of Financial Transactions(SFT) i.e FORM 61A
Section 285BA of the incopme tax act, 1961 read with rule 114E of the income tax rules, 1962 sp
ICAI may 'temporarily suspend' erring members
The Institute of Chartered Accountants of India (ICAI) is toying with the idea of introducing t
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