Bombay HC: Railway Employee With Valid Privilege Pass is Bona Fide Passenger Despite Missing Entries  ||  Delhi High Court: Mere Pleadings Made To Prosecute or Defend a Case Do Not Amount To Defamation  ||  Delhi High Court: Asking an Accused To Cross-Examine a Witness Without Legal Aid Vitiates The Trial  ||  Delhi High Court: Recruitment Notice Error Creates No Appointment Right Without Vacancy  ||  Supreme Court: Subordinate Legislation Takes Effect Only From its Publication in The Official Gazette  ||  Supreme Court: DDA Must Adopt a Litigation Policy To Screen Cases and Avoid Unnecessary Filings  ||  Authorities Holding Public Auctions Must Disclose All Known Encumbrances and Related Litigation  ||  SC: Compensatory Allowances Must Be Included While Computing Overtime Wages U/S 59 of Factories Act  ||  SC: NGT Has No Jurisdiction to Decide Disputes Relating to Building Plan Violations  ||  SC: Evidence is Often Fabricated Using AI And False Allegations are Rampant in Matrimonial Cases    

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