APPLICABILITY OF INCOME TAX AND GST ON JOINT DEVELOPMENT AGREEMENT IN REAL ESTATE FOR LANDOWNERS AND BUILDERS
APPLICABILITY OF INCOME TAX AND GST ON JOINT DEVELOPMENT AGREEMENT IN REAL ESTATE FOR LANDOWNERS AND BUILDERS Introduction In the real estate sector, Joint Development Agreements (JDAs) are a common arrangement ...
Scope of Rectification under Section 254(2) – Whether ITAT Was Right in Modifying Its Earlier Order?
Scope of Rectification under Section 254(2) – Whether ITAT Was Right in Modifying Its Earlier Order? M/s Devaraj & Others v. ITO, Coimbatore:-Madras High Court | TCA Nos. 319/2016 & 538/2021 | Judgment dated...
Exemption of Income of any University or other Educational Institution Substantially Financed by Government [Section 10(23C)(iiiab)]
Exemption of Income of any University or other Educational Institution Substantially Financed by Government [Section 10(23C)(iiiab)] The provisions of section 10(23C)(iiiab) grant exemption of income earned by any person esta...
Book profit on sale of a motor vehicle forming part of a continuing depreciable block cannot be taxed separately once the full sale consideration is reduced under Section 43(6)(c).
ITAT Ahmedabad: Suyog Electricals Ltd. v. DCIT, Circle 2(1)(1), Vadodara, ITA No. 1352/Ahd/2025, order dated 25 November 2025.Core Issue: Whether an addition of Rs. 4,83,894, being the book profit on sale of a motor vehicle forming part of the depr...
Severance compensation constitutes ‘profits in lieu of salary’, not capital receipts, under amended Section 17(3)(iii)
Severance compensation constitutes ‘profits in lieu of salary’, not capital receipts, under amended Section 17(3)(iii)Hyderabad ITAT holds that the severance compensation of Rs. 26,97,912/- received by the Assessee is taxable as ...