Aiswarya Krishnadas
![Education Cess cannot be allowed as Allowable Expense u/s 37 (1) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Delhi-Education-Cess-Income-tax-taxscan.jpg "Education Cess cannot be allowed as Allowable Expense u/s 37 (1) of Income Tax Act: ITAT [Read Order]")
Education Cess cannot be allowed as Allowable Expense u/s 37 (1) of Income Tax Act: ITAT [Read Order]
In a recent ruling, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) observed that the education cess cannot be allowed as allowable...
![Income Tax Authorities Fails to Appreciate Amended Provision of S. 36(1) ( iia ) of Income Tax Act, Denies Additional Depreciation Claim:Â ITAT allows claim of Rs. 49.5 cr [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Ahmedabad-ITAT-Income-Tax-Authorities-Income-Tax-authorities-and-depreciation-claims-Tax-deductions-and-additional-depreciation-Taxscan.jpg "Income Tax Authorities Fails to Appreciate Amended Provision of S. 36(1) ( iia ) of Income Tax Act, Denies Additional Depreciation Claim:Â ITAT allows claim of Rs. 49.5 cr [Read Order]")
![Capital Grant Receipt for Assets with Depreciation Rate Differing from 15% to be Calculated to Applicable Rate: ITAT directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Ahmedabad-Capital-Grant-Receipt-Income-Tax-TAXSCAN.jpg "Capital Grant Receipt for Assets with Depreciation Rate Differing from 15% to be Calculated to Applicable Rate: ITAT directs Re-Adjudication [Read Order]")
![Relief to Hindustan Times: ITAT allows Expenditure incurred on Paintings, Deeming Essential for Business Environment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Delhi-ITAT-Hindustan-Times-Business-expenditure-on-art-Tax-relief-for-art-acquisition-Hindustan-Times-painting-expenditure-Taxscan-1.jpg "Relief to Hindustan Times: ITAT allows Expenditure incurred on Paintings, Deeming Essential for Business Environment [Read Order]")
![Relief ISRO Employees Society: ITAT condones Delay Considering Affidavit, Directs NFAC to Consider Section 80P (2)(d) Claims [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Bangalore-Income-Tax-ISRO-Employees-Society-TAXSCAN.jpg "Relief ISRO Employees Society: ITAT condones Delay Considering Affidavit, Directs NFAC to Consider Section 80P (2)(d) Claims [Read Order]")
Relief to Hindustan Times: ITAT rules Currency Loss Due to Fire Write-Off Allowable as Trading Loss u/s 28 of Income Tax Act [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled in favor of Hindustan Times, allowing the write-off of currency loss due to fire as a trading loss under Section 28 of the...
![Relief to Hindustan Times: ITAT rules Currency Loss Due to Fire Write-Off Allowable as Trading Loss u/s 28 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Delhi-Income-Tax-Trading-Loss-Hindustan-Times-taxscan.jpg "Relief to Hindustan Times: ITAT rules Currency Loss Due to Fire Write-Off Allowable as Trading Loss u/s 28 of Income Tax Act [Read Order]")
Delay of 3587 days for filing e-Form MGT-6: MCA imposes Penalty of ₹ 13 lakhs for violation of Section 89(6) of Companies Act on Company and Directors [Read Order]
The Madhya Pradesh bench of the Ministry of Corporate Affairs ( MCA ) has imposed a penalty of ₹13 lakhs on account of a delay of 3587 days in filing e-Form MGT-6, citing violation of Section 89(6)...
Online Income Tax appeal and Stay Petition Concerning Assessment Order A.Y. 2020-21 filed beyond Statutory time limit: Kerala HC dismisses Writ Petition [Read Order]
The Kerala High Court dismissed a writ petition concerning the online income tax appeal and stay petition related to the assessment order for the assessment year 2020-21, which was filed beyond the...
![Online Income Tax appeal and Stay Petition Concerning Assessment Order A.Y. 2020-21 filed beyond Statutory time limit: Kerala HC dismisses Writ Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Income-Tax-Kerala-High-Court-Income-tax-news-Income-tax-portal-taxscan.jpg "Online Income Tax appeal and Stay Petition Concerning Assessment Order A.Y. 2020-21 filed beyond Statutory time limit: Kerala HC dismisses Writ Petition [Read Order]")
MCA Imposes 3 Lakhs Penalty on Company and Officers for Default in Registered Office Maintenance [Read Order]
The chennai bench of the Ministry of Corporate Affairs ( MCA ) imposed 3 Lakhs penalty on Step Inprops Pvt Ltd and officers for Default in registered office Maintenance Whereas this Adjudicating...
Relief to Bank of Nova Scotia: ITAT allows Deduction of Interest paid by Indian branch to Head office [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has granted relief to the Bank of Nova Scotia by allowing the deduction of interest paid by its Indian branch to its Head office. The...
![Relief to Bank of Nova Scotia: ITAT allows Deduction of Interest paid by Indian branch to Head office [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Bank-of-Nova-Scotia-ITAT-ITAT-allows-Deduction-of-Interest-taxscan.jpg "Relief to Bank of Nova Scotia: ITAT allows Deduction of Interest paid by Indian branch to Head office [Read Order]")
Relief to Bank of Nova scortia: ITAT allows Expenditure incurred towards earnings interest income exempt u/s 10 (15) [Read Order]
The Income Tax Appellate Tribunal (ITAT) has provided relief to the Bank of Nova Scotia by permitting the expenditure incurred towards earning interest income exempt under Section 10(15) of the...
![Relief to Bank of Nova scortia: ITAT allows Expenditure incurred towards earnings interest income exempt u/s 10 (15) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Bank-of-Nova-scortia-ITAT-Expenditure-interest-income-exempt-us-10-15-TAXSCAN.jpg "Relief to Bank of Nova scortia: ITAT allows Expenditure incurred towards earnings interest income exempt u/s 10 (15) [Read Order]")
ITAT upholds Genuine Nature of Sunrise Asian Share Sales, allows LTCG claims under Section 10(38) of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) decision to uphold the genuine nature of Sunrise Asian share sales resulted in granting Long Term Capital Gain (LTCG) claims under Section...
![ITAT upholds Genuine Nature of Sunrise Asian Share Sales, allows LTCG claims under Section 10(38) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-upholds-Genuine-Nature-of-Sunrise-Asian-Share-Sales-Sunrise-Asian-Share-Sales-taxscan.jpg "ITAT upholds Genuine Nature of Sunrise Asian Share Sales, allows LTCG claims under Section 10(38) of Income Tax Act [Read Order]")