Supreme Court Cancels SARFAESI Auction Sale After 16 Years Due to a 5-Day Payment Delay  ||  Jhar HC Orders 2-Month Probe Deadline, DGP Monitoring to Overhaul Sexual Violence Response in State  ||  Delhi HC: Social Media Cannot Undermine Judiciary; Intermediaries Must Act Without Court Orders  ||  Bom HC Directs No Coercive Action Against Anil Ambani under Black Money Act in Rs 420 Crore Tax Case  ||  Allahabad HC Flags Misuse of BNSS Preventive Detention Powers in Prayagraj Police Commissionerate  ||  Bombay HC: Court-Directed Disclosure Prevails over Confidentiality Clause in Agreement  ||  SC : Del HC can be Approached by CAPF Personnel for Service Disputes  ||  Delhi HC: Khurram Parvez Granted Bail in UAPA Case  ||  Allahabad HC: Magistrates, Police Personally Liable for Illegal Detention  ||  Bombay HC: No Case for Prior Restraint Against HDFC    

ITAT, Bangalore: Irrecoverable Advances for Land for Real Estate Development Business Allowable - (02 May 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal, Bangalore has ruled that the advances agreed for purchase of land in the normal course of business of carrying on real estate development, if not recoverable could be permitted as either trading loss under section 28 of the Income Tax Act, 1961.

Tags : INCOME TAX APPELLATE TRIBUNAL   INCOME TAX ACT   1961   REAL ESTATE DEVELOPMENT  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved