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 January 2017 Year 2017 This

Since the Company had not commenced its business of development ...

Case Laws     Income Tax

January 4, 2017

Since the Company had not commenced its business of development of SEZ/Real Estate, the expenditure claimed could not have been treated as the expenditure incurred for the purpose of business - Since the expenditure was not allowable expenditure, it amounted to irregular allowances of loss. - HC

View Source

 


 

You may also like:

  1. Disallowing claim of expenditure - non-carrying of business activity during the year under reference - The case involved an appeal by an assessee against the...

  2. Revision u/s 263 - Company has not commenced its business or development of SEZ / real estate still the interest payable / paid on the loans and other incidental...

  3. Revision u/s 263 - claiming business expenditure while claiming standard deduction in the rental income - No doubt assessee has claimed the voluntary expenditure under...

  4. Disallowance of expenditure claimed under the head "Business" - proof of commencement of business - the generation of actual business income was not an essential element...

  5. Real estate development company advanced loans to its Indian subsidiary for funding step-down foreign subsidiaries undertaking real estate projects. Interest paid on...

  6. Receipt of liquidated damages - Surplus in our opinion had all the features of business profit, since assessee’s adventure or foray into real estate development was...

  7. As the business in respect of which the said development cost has been incurred is discontinued, the same cannot be claimed as revenue expenditure in respect of another...

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

  9. Securities and Exchange Board of India (Real Estate Investment Trusts) (Amendment) Regulations, 2024 - The amendment revises the definition of REITs, highlighting that a...

  10. Classification of services - Real estate agent services or not - it is not merely the real estate consultant but any person who facilitates getting any property /real...

  11. Setting up of business during the year under consideration - Assessee having invested substantial amount in the purchase of another property in the year itself, thus,...

  12. U.P. RERA - Refund of the investment made along with interest to allottees under Section 31 of of The Real Estate(Regulation and Development) Act, 2016 and The Uttar...

  13. Research and Development expenditure i.e. G.E.Linear Development Expenditure, Eaton Project Development - the expenditure did not reflect that any new capital asset had...

  14. Income tax case involving disallowance of expenses incurred by a company for maintaining a guest house. The legal ownership of the guest house was with the company...

  15. Bad debts - Disallowance of advance/balance written off claimed as deduction - the amount advanced by the assessee company to commission agent, for the purchase of...

 

Quick Updates:Latest Updates