Allahabad High Court: Husband's Liability under the Domestic Violence Act Continues Despite Divorce  ||  Bombay HC: Municipal Council Must Pay for Land Used as DP Road Despite Fund Shortage  ||  Uttarakhand HC: Previous Service Pay Protection Does Not Confer Right to Career Progression Benefits  ||  Supreme Court Revives POCSO Case Against Headmistress, Says Verifying Abuse Claims is No Excuse  ||  SC: Voluminous Documents are No Excuse For Their Delayed Production under Commercial Courts Act  ||  Supreme Court Orders Merged Bank's Eviction For Transferring Tenancy Without Landlord's Consent  ||  SC: Oraon Tribe Custom Doesn't Allow Uncle-In-Law to Adopt Niece's Husband as Ghar Damad  ||  Kerala HC Approves New Public Prosecutor Appointment Guidelines After a Minor Revision  ||  Rajasthan HC Clarifies Criminal Writ Petitions Have No Separate Constitutional Status  ||  Delhi HC Clarifies if Whatsapp Acknowledgment Can Make an Arbitral Award Binding    

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