Killamsetty Rasmita
![Start-up Businesses Can Deduct All Revenue Expenses, Even If business has not commenced u/s 30(1) and 37(1) of IT Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Revenue-Expenses-Start-up-Businesses-If-business-IT-Act-ITAT-taxscan.jpg "Start-up Businesses Can Deduct All Revenue Expenses, Even If business has not commenced u/s 30(1) and 37(1) of IT Act: ITAT [Read Order]")
Start-up Businesses Can Deduct All Revenue Expenses, Even If business has not commenced u/s 30(1) and 37(1) of IT Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has ruled that start-up businesses can deduct all revenue expenses, even if the business...
![Actual Sale Consideration to be taken as Basis for Computing Long-Term Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Actual-Sale-Sale-Actual-Sale-Consideration-Consideration-ITAT-taxscan.jpg "Actual Sale Consideration to be taken as Basis for Computing Long-Term Capital Gain: ITAT [Read Order]")
![ITAT allows 10% of Cash Deposits as Taxable Income in Absence of Evidence of Source u/s 69A of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Cash-Deposits-Taxable-Income-Absence-Evidence-Source-IT-Act-TAXSCAN.jpg "ITAT allows 10% of Cash Deposits as Taxable Income in Absence of Evidence of Source u/s 69A of IT Act [Read Order]")
![Income from Business of Renting Equipments of Residual Management not falls under House Property Income: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-Income-from-Business-Income-from-Business-of-Renting-Equipments-of-Residual-Management-Renting-Equipments-of-Residual-Management-taxscan.jpg "Income from Business of Renting Equipments of Residual Management not falls under House Property Income: ITAT deletes Addition [Read Order]")
![Deduction on Employees PF Contribution can be Claim Even if Payment was made After Due Date as per S. 36(1)(va) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Deduction-on-Employees-PF-Contribution-Payment-Due-Date-Deduction-Income-Tax-Act-ITAT-taxscan.jpg "Deduction on Employees PF Contribution can be Claim Even if Payment was made After Due Date as per S. 36(1)(va) of Income Tax Act: ITAT [Read Order]")
Sub-contracting Charges Not Taxable in India if No Technical Knowledge Transferred: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has ruled that sub-contracting charges are not taxable in India if no technical knowledge is transferred to the Indian entity and held that...
![Sub-contracting Charges Not Taxable in India if No Technical Knowledge Transferred: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Sub-contracting-Charges-Not-Taxable-in-India-Technical-Knowledge-Transferred-ITAT-TAXSCAN.jpg "Sub-contracting Charges Not Taxable in India if No Technical Knowledge Transferred: ITAT [Read Order]")
Interest paid on Loan for Repayment of earlier loan for Construction of property may be Deductible from House Property Income: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has remanded a case back to the Assessing Officer (AO) to decide whether interest paid on a loan taken for repayment of an earlier loan...
![Interest paid on Loan for Repayment of earlier loan for Construction of property may be Deductible from House Property Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Interest-paid-Loan-Repayment-loan-Construction-property-Deductible-House-Income-ITAT-TAXSCAN.jpeg "Interest paid on Loan for Repayment of earlier loan for Construction of property may be Deductible from House Property Income: ITAT [Read Order]")
Power to Transfer Appeals is vested with Respective Benches of ITAT, and not with President: ITAT Dismisses Appeal [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has dismissed an appeal filed by the revenue, i.e. the Income Tax Department, challenging the order of the Bangalore bench of the ITAT....
![Power to Transfer Appeals is vested with Respective Benches of ITAT, and not with President: ITAT Dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Transfer-Appeals-Appeal-Power-to-Transfer-Appeals-Respective-Benches-ITAT-ITAT-Dismisses-Appeal-Taxscan.jpg "Power to Transfer Appeals is vested with Respective Benches of ITAT, and not with President: ITAT Dismisses Appeal [Read Order]")
![AO Must Verify Source of Cash Deposits Made During Demonetization Period: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/AO-Verify-Source-Cash-Deposits-Demonetization-Period-ITAT-taxscan.jpg "AO Must Verify Source of Cash Deposits Made During Demonetization Period: ITAT [Read Order]")
Repair and Maintenance Expenses are Revenue in Nature: ITAT Allows Deduction u/s 37(1) [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has allowed the deduction of repair and maintenance expenses as revenue expenditure under Section 37(1) of the Income Tax Act, 1961. The...
![Repair and Maintenance Expenses are Revenue in Nature: ITAT Allows Deduction u/s 37(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Repair-Maintenance-Expenses-Revenue-Nature-ITAT-Deduction-taxscan.jpeg "Repair and Maintenance Expenses are Revenue in Nature: ITAT Allows Deduction u/s 37(1) [Read Order]")
Fraudulent Refund by Increasing Deductions and Reducing Taxable Income is Fraud committed against Dept to Evade Income Tax: ITAT upholds Penalty [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal upheld a penalty for misreporting income and suppressed gross total income and inflated deduction claims under chapter VI-A of the Income Tax Act,...
![Fraudulent Refund by Increasing Deductions and Reducing Taxable Income is Fraud committed against Dept to Evade Income Tax: ITAT upholds Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Fraudulent-Refund-Increasing-Deductions-and-Reducing-Taxable-Income-is-Fraud-committed-Dept-to-Evade-Income-Tax-ITAT-Upholds-Penalty-TAXSCAN.jpg "Fraudulent Refund by Increasing Deductions and Reducing Taxable Income is Fraud committed against Dept to Evade Income Tax: ITAT upholds Penalty [Read Order]")