![Licence to use Software Not an Enduring Benefit: ITAT Treats Software Licence Fees as Revenue Expenditure in DSP Merrill Lynch Case [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/500x300_2104478-revenue-expenditure-licence-to-use-software-merrill-lynch-case-taxscan.webp "Licence to use Software Not an Enduring Benefit: ITAT Treats Software Licence Fees as Revenue Expenditure in DSP Merrill Lynch Case [Read Order]")
Licence to use Software Not an Enduring Benefit: ITAT Treats Software Licence Fees as Revenue Expenditure in DSP Merrill Lynch Case [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) Mumbai has held that software licence fees paid for the right to use MS Office constitute revenue...
![ITC under VAT cannot be Considered as Income Unless Claimed as Expenditure in P&L Account: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/250x150_2104464-itc-vat-pl-account-itat-expenditure-in-pl-account-taxscan.webp "ITC under VAT cannot be Considered as Income Unless Claimed as Expenditure in P&L Account: ITAT [Read Order]")
![Estimated Profit Addition Not a Ground for Penalty: ITAT Deletes ₹42.68 Lakh Levy u/s 271(1)(c) [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/250x150_2104454-no-penalty-taxscan.webp "Estimated Profit Addition Not a Ground for Penalty: ITAT Deletes ₹42.68 Lakh Levy u/s 271(1)(c) [Read Order]")
![Reassessment Based on Borrowed Belief from ACB Report Invalid: ITAT Quashes S.147 & S.263 [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/250x150_2104658-reassessment-borrowed-belief-acb-report-invalid-itat-taxscan.webp "Reassessment Based on Borrowed Belief from ACB Report Invalid: ITAT Quashes S.147 & S.263 [Read Order]")
Joint Purchase with Son-in-Law Does Not Bar Full Deduction u/s 54: ITAT Allows ₹3.67 Cr Exemption [Read Order]
In a dispute over the quantum of deduction under Section 54 of the Income Tax Act, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) dismissed the Revenue’s appeal challenging the relief ...
![Joint Purchase with Son-in-Law Does Not Bar Full Deduction u/s 54: ITAT Allows ₹3.67 Cr Exemption [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/500x300_2104639-joint-purchase-full-deduction-itat-exemption-taxscan.webp "Joint Purchase with Son-in-Law Does Not Bar Full Deduction u/s 54: ITAT Allows ₹3.67 Cr Exemption [Read Order]")
Book Entries of Unverified Bank Overdrafts Not Genuine Income Tax Liabilities: Supreme Court sustains Delhi HC Order [Read Judgement]
The Supreme Court of India recently upheld a ruling by the Delhi High Court wherein it was affirmed that book entries reflecting unverified bank overdrafts did not constitute genuine income tax...
![Book Entries of Unverified Bank Overdrafts Not Genuine Income Tax Liabilities: Supreme Court sustains Delhi HC Order [Read Judgement]](https://images.taxscan.in/h-upload/2025/11/12/500x300_2104508-book-entries-unverified-bank-income-tax-liabilities-income-tax-taxscan.webp "Book Entries of Unverified Bank Overdrafts Not Genuine Income Tax Liabilities: Supreme Court sustains Delhi HC Order [Read Judgement]")
Reassessment Without Jurisdiction: ITAT Quashes ITO Order, Rs. 38.34 Lakh Addition Nullified [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi, has quashed a reassessment order passed by the ITO, involving a registered society and madarsa, after finding serious jurisdictional lapses. The...
![Reassessment Without Jurisdiction: ITAT Quashes ITO Order, Rs. 38.34 Lakh Addition Nullified [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/500x300_2104485-reassessment-jurisdiction-itat-ito-taxscan.webp "Reassessment Without Jurisdiction: ITAT Quashes ITO Order, Rs. 38.34 Lakh Addition Nullified [Read Order]")
![Income Tax Penalty u/s 271F Not Leviable as ITR Filed Within Prescribed Time: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/11/12/500x300_2104472-income-tax-penalty-itr-prescribed-time-itat-taxscan.webp "Income Tax Penalty u/s 271F Not Leviable as ITR Filed Within Prescribed Time: ITAT [Read Order]")
Overseas Advisory Services Rendered from India: ITAT Restores Deduction u/s 80-O, Partly allows Appeal of DSP Merrill Lynch
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that professional and technical advisory services rendered by DSP Merrill Lynch Ltd from India to foreign clients in connection ...
Income Tax Portal Under Maintenance Right After Audit Deadline: MSME CA Frustrated by Poor Timing
The Income Tax Department’s online compliance portal is under scheduled maintenance, just days after the audit report filing deadline. During this period, taxpayers and accountants cannot access the...
