1. Commissioner of Income-tax, Allahabad vs. Smt. Rama Rani Kalia [2013] 38 taxmann.com 176 (Allahabad) Converting a leasehold property into freehold improves title of asset; holding period reckoned from date of lease -IT: Conversion of rights of lessee in property from leasehold right into freehold only results in improvement of his/her rights over property and it would not have any effect on taxability of gain from such property, which is related to period over which property is held. 2. Commissioner of Wealth Tax, Patiala vs. Industrial Cables (India) Ltd. [2013] 38 taxmann.com 126 (Punjab & Haryana) Land adjoining factory utilized for industrial purposes wouldn't be liable to wealth tax -IT : Land adjoining factory utilized for industrial purposes would not be liable to wealth tax 3. Commissioner of Income-tax, Delhi vs. H.B. Leasing & Finance Ltd. [2013] 38 taxmann.com 121 (Delhi) Higher depreciation to be allowed on vehicle given on lease -IT: Where assessee e...
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