product method on all advances except for a part of the deferred sale consideration. As regards interest on the remaining part of deferred sale consideration ... addition as proposed by the ITO, as accrued interest on deferred sale consideration. It may be pointed out that in coming to the above conclusion
Madhav Builders, , Ahmedabad vs Assessee on 1 February, 2016
IN THE INCOME TAX APPELLATE TRIBUNAL
discharged his duty in the manner
expected under law, as he deferred consideration of incriminating
material despite being obliged to adjudicate the same
construction of a building takes
place either for cash or deferred payment, or valuable consideration. To be also noted that
the definition does ... property enters into an agreement to construct for cash, deferred payment or
valuable consideration a building or flats on behalf of anybody else, it would
construction of a building takes
place either for cash or deferred payment, or valuable consideration. To be also noted that
the definition does ... property enters into an agreement to construct for cash, deferred payment or
valuable consideration a building or flats on behalf of anybody else, it would
years under review. Further the trustees of these assessee deferred trust or the said deferred trust themselves cannot be regarded as beneficiaries. Therefore ... were restored for all the years under consideration.
8. In the present appeals, the trustees of 17 deferred trusts have challenged the orders under
resolution postponing the date of
charging contractual interest on the deferred purchase
consideration of its business undertaking and accordingly filed a
'Nil' estimate
submissions :
1. 94.008 acres of land at Srikakulam
2. Non-compete consideration of Rs. 6 crores
The facts and circumstances behind the said transaction ... capital in nature. The concept of. deferred revenue expenditure comes only when the expenditure under consideration is revenue in nature and its allowance
Gopi', interest income received/receivable from M/s BVM on the deferred payment of instalments towards the sale proceeds of the fixed assets ... receive interest from M/s BVM on the deferred amount of sai.e consideration in quarterly instalments as per the agreement
Adani Enterprises Ltd., Ahmedabad vs Dcit, Circle-1(1)(1),, Ahmedabad on 17 August, 2022
