Home Highlights May 2013 Year 2013 This

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1. Depreciation on toll road/bridge - assessee establish, finance, design, construct, operate and maintains a NOIDA-Bridge across the river 'Yamuna' under the BOOT basis -...

2. Additions on expenses on Road belonging to Zilla Parishad - The roads which were constructed around the factory with the help of the amount of Rs. 50,000 contributed by...

3. Revision u/s 263 by CIT - Depreciation on road and toll bridge constructed by the assessee - Tribunal has erred in concluding that the Assessing Officer has taken one of...

4. Recovery of service tax - construction of approach roads to weigh bridges - The present roads have been constructed to facilitate the movement of the transport vehicles...

5. Governmental authority or Government Entity? - Government of Gujarat has established GSRDC as its wholly owned company and entrusted it with the development of roads and...

6. Activities of street light maintenance cannot be equated with maintenance of road, bridge, tunnel etc. - Exemption not available - AAR

7. Higher rate of depreciation - machinery is put on hire in the business - the assessee has not shown any hire charges in respect of heavy earth moving machineries used by...

8. Depreciation on Rail Over Bridge - though Rail Over Bridge is not in the name of the assessee but assessee has physical possession and right to collect the toll -...

9. Supply of manpower to job-worker - the assessee has been utilizing his own labour for packing activities. Viewed in this light, we are not able to appreciate how tax can...

10. Expenditure incurred by subsidiary company for overseeing and executing contracts entered by parent company cannot be considered as business loss of subsidiary....

11. Addition u/s 69A - AIR information revealed cash deposits in assessee's savings bank account - assessee applied Section 44AD of the Act on business income. Held:...

12. The Appellate Tribunal held that the right to collect toll in a BOT project constitutes an intangible asset, allowing for depreciation u/s 32(1)(ii) of the Act. Citing a...

13. The ITAT, an Appellate Tribunal, addressed the re-computation of long-term capital gain related to determining the cost of improvement for constructing a concrete bridge...

14. Long-term capital gains deduction u/s 54F can be claimed for investment in a residential property not solely owned by the assessee. The assessing officer's sole...

15. Addition u/s 68 - Loan taken from shell company - There is no dispute with regard to utilization of funds in the business and applied for the business purpose. As long...