Offshore Supply Contracts Are Not Taxable u/s 44BBB: ITAT Quashes Tax Demand Against Chinese Company for Income from Turnkey Power Project Supplies
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) quashed tax demand against Chinese company for income from turnkey power project supplies,...
![NCLAT dismisses Byjus Appeal against NCLT’s Interim Order [Read Order]](https://images.taxscan.in/h-upload/2025/06/13/250x150_2043527-nclat-nclat-dismisses-bijus-appeal-bijus-appeal-taxscan.webp "NCLAT dismisses Byjus Appeal against NCLT’s Interim Order [Read Order]")
![Bogus Claims of Huge Amount: Himachal Pradesh HC Upholds PMLA Offence relying on ‘reasons to believe’ [Read Order]](https://images.taxscan.in/h-upload/2025/06/13/250x150_2043524-himachal-pradesh-hc-site-img.webp "Bogus Claims of Huge Amount: Himachal Pradesh HC Upholds PMLA Offence relying on ‘reasons to believe’ [Read Order]")
![Adopted Son’s Plea for Compassionate Appointment: Madras HC Directs Commercial Tax Dept to Decide Within Six Weeks [Read Order]](https://images.taxscan.in/h-upload/2025/06/13/250x150_2043493-madras-hc-commercial-tax-dept-taxscan.webp "Adopted Son’s Plea for Compassionate Appointment: Madras HC Directs Commercial Tax Dept to Decide Within Six Weeks [Read Order]")
ITAT Favors Micromax in ₹16 Cr FD Interest and Section 14A Dispute; Quashes Revision Order [Read Order]
In a recent ruling, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) granted relief to Micromax Informatics Ltd. by quashing a revision order concerning Rs. 16 crore fixed deposit (FD)...
![ITAT Favors Micromax in ₹16 Cr FD Interest and Section 14A Dispute; Quashes Revision Order [Read Order]](https://images.taxscan.in/h-upload/2025/06/12/500x300_2043240-itat-revision-order-fd-interest-taxscan.webp "ITAT Favors Micromax in ₹16 Cr FD Interest and Section 14A Dispute; Quashes Revision Order [Read Order]")
Relief to Louis Vuitton: ITAT Holds Bright Line Test not valid Method for making TPA on Advertisement, Marketing & Promotion [Read Order]
In a significant relief for luxury retail giant Louis Vuitton India Retail Pvt. Ltd. (LV), the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the Bright Line Test (BLT) cannot...
![Relief to Louis Vuitton: ITAT Holds Bright Line Test not valid Method for making TPA on Advertisement, Marketing & Promotion [Read Order]](https://images.taxscan.in/h-upload/2025/06/12/500x300_2043237-louis-vuitton-site-img.webp "Relief to Louis Vuitton: ITAT Holds Bright Line Test not valid Method for making TPA on Advertisement, Marketing & Promotion [Read Order]")
Customer Contracts and Assembled Workforce are “Intangible Assets”: ITAT Allows Genpact’s Depreciation Claim on Acquisition of Debt Collection Firm Acquisition in 2010 [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) allowed Genpact Services LLC's claim for depreciation on customer contracts and assembled workforce, holding that these qualify as...
![Customer Contracts and Assembled Workforce are “Intangible Assets”: ITAT Allows Genpact’s Depreciation Claim on Acquisition of Debt Collection Firm Acquisition in 2010 [Read Order]](https://images.taxscan.in/h-upload/2025/06/12/500x300_2043224-itat-delhi-intangible-assets-taxscan.webp "Customer Contracts and Assembled Workforce are “Intangible Assets”: ITAT Allows Genpact’s Depreciation Claim on Acquisition of Debt Collection Firm Acquisition in 2010 [Read Order]")
S.80-IC Deduction Must Be Computed Solely on Eligible Unit’s Profit, ITAT Bars Set-Off of Non-Eligible Unit Losses [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) recently reaffirmed that deductions under section 80-IC of the Income Tax Act, 1961 must be computed solely on the profit of the...
![S.80-IC Deduction Must Be Computed Solely on Eligible Unit’s Profit, ITAT Bars Set-Off of Non-Eligible Unit Losses [Read Order]](https://images.taxscan.in/h-upload/2025/06/12/500x300_2043158-deduction-deduction-must-be-computed-solely-solely-on-eligible-units-profit.webp "S.80-IC Deduction Must Be Computed Solely on Eligible Unit’s Profit, ITAT Bars Set-Off of Non-Eligible Unit Losses [Read Order]")
Income Tax Deduction u/s 10AA Cannot Be Denied for Delay in Filing Form 56F: Madras HC Dismisses Revenue's Appeal [Read Order]
The Madras High Court has held that the income tax deduction under Section 10AA cannot be denied on the grounds of delay in the filing of Form 56F. The assessee, Astrotech Steels Private ...
![Income Tax Deduction u/s 10AA Cannot Be Denied for Delay in Filing Form 56F: Madras HC Dismisses Revenues Appeal [Read Order]](https://images.taxscan.in/h-upload/2025/06/12/500x300_2043113-madras-hc.webp "Income Tax Deduction u/s 10AA Cannot Be Denied for Delay in Filing Form 56F: Madras HC Dismisses Revenues Appeal [Read Order]")