![ITAT Allows Joy Alukkas’s Income Tax Deduction of ₹1.39 Cr Interest on Loans for Renovation of Leasehold Premises u/s 36(1)(iii) [Read Order]](https://images.taxscan.in/h-upload/2025/09/24/500x300_2090385-income-tax-deduction-taxscan.webp "ITAT Allows Joy Alukkas’s Income Tax Deduction of ₹1.39 Cr Interest on Loans for Renovation of Leasehold Premises u/s 36(1)(iii) [Read Order]")
ITAT Allows Joy Alukkas’s Income Tax Deduction of ₹1.39 Cr Interest on Loans for Renovation of Leasehold Premises u/s 36(1)(iii) [Read Order]
The Income Tax Appellate Tribunal (ITAT), Cochin, allowed the deduction of ₹1,39,04,056 made under Section 36(1)(iii) of the Income Tax Act on...
![Allegation of Suppressed Turnover and Bogus Discounts: ITAT accepts HP India Sales’ Evidence as Genuine Business Practice [Read Order]](https://images.taxscan.in/h-upload/2025/09/24/250x150_2090381-allegation-turnover-itat-hp-india-taxscan.webp "Allegation of Suppressed Turnover and Bogus Discounts: ITAT accepts HP India Sales’ Evidence as Genuine Business Practice [Read Order]")
![Unsigned Draft Agreement has No Evidentiary Value Without Independent Inquiry by AO: ITAT Deletes ₹13 Lakh Addition [Read Order]](https://images.taxscan.in/h-upload/2025/09/24/250x150_2090335-unsigned-draft-agreement-evidentiary-itat-taxscan.webp "Unsigned Draft Agreement has No Evidentiary Value Without Independent Inquiry by AO: ITAT Deletes ₹13 Lakh Addition [Read Order]")
![Bright Line Test not Applicable for TP Adjustments on Jewellery, Textiles and Gift Exports: ITAT Remands Joy Alukkas’ Income Tax Case for Fresh Benchmarking [Read Order]](https://images.taxscan.in/h-upload/2025/09/24/250x150_2090373-benefits.webp "Bright Line Test not Applicable for TP Adjustments on Jewellery, Textiles and Gift Exports: ITAT Remands Joy Alukkas’ Income Tax Case for Fresh Benchmarking [Read Order]")
![Stockguru Scam: Delhi HC Holds Seized Money as ‘Proceeds of Crime,’ Bars Income Tax Recovery Until PMLA Trial Ends [Read Order]](https://images.taxscan.in/h-upload/2025/09/24/250x150_2090623-delhi-high-court-stockguru-scam-income-tax-recovery-taxscan.webp "Stockguru Scam: Delhi HC Holds Seized Money as ‘Proceeds of Crime,’ Bars Income Tax Recovery Until PMLA Trial Ends [Read Order]")
Provision for discount once accepted by Income Tax Dept as an allowable expense cannot be changed later: Karnataka HC rules in favour of LTI Mindtree Ltd. [Read Order]
In a ruling in favour of LTI Mindtree Ltd, the Karnataka High Court observed that the provision for discount had been discharged fully in the subsequent years which showed that the assessee was...
![Provision for discount once accepted by Income Tax Dept as an allowable expense cannot be changed later: Karnataka HC rules in favour of LTI Mindtree Ltd. [Read Order]](https://images.taxscan.in/h-upload/2025/09/24/500x300_2090501-income-tax-dept-income-tax-provision-for-discount-karnataka-hc-taxsacna.webp "Provision for discount once accepted by Income Tax Dept as an allowable expense cannot be changed later: Karnataka HC rules in favour of LTI Mindtree Ltd. [Read Order]")
Penalty u/s 271(1)(c) of the Income Tax Act Requires Verification of Loss: ITAT Orders Re-Examination [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai, has remanded a penalty dispute involving concealment of income and inaccurate particulars under Section 271(1)(c) of the Income Tax Act, 1961, for...
![Penalty u/s 271(1)(c) of the Income Tax Act Requires Verification of Loss: ITAT Orders Re-Examination [Read Order]](https://images.taxscan.in/h-upload/2025/09/23/500x300_2090163-tat-mumbai-income-tax-act-penalty-taxscanjpge.webp "Penalty u/s 271(1)(c) of the Income Tax Act Requires Verification of Loss: ITAT Orders Re-Examination [Read Order]")
Relief for Goldman Sachs: ITAT Sets Aside Disallowance of Rs. 1.87 Crore Occupancy Expenses, Directs AO to Verify Claim Afresh [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) granted relief to Goldman Sachs (India) Finance Pvt. Ltd., setting aside the disallowance of Rs. 1.87 crore claimed as Occupancy Expenses and...
![Relief for Goldman Sachs: ITAT Sets Aside Disallowance of Rs. 1.87 Crore Occupancy Expenses, Directs AO to Verify Claim Afresh [Read Order]](https://images.taxscan.in/h-upload/2025/09/23/500x300_2090113-goldman-sachs-itat-occupancy-expenses-directs-ao-taxscan.webp "Relief for Goldman Sachs: ITAT Sets Aside Disallowance of Rs. 1.87 Crore Occupancy Expenses, Directs AO to Verify Claim Afresh [Read Order]")
![[BREAKING] Rajasthan HC directs CBDT to extend Income Tax Audit Deadline](https://images.taxscan.in/h-upload/2025/09/22/500x300_2089542-income-tax-audit.webp "[BREAKING] Rajasthan HC directs CBDT to extend Income Tax Audit Deadline")
Improper Email Service and CA’s Demise is Valid Cause for Non-Compliance: ITAT restores Income Tax Appeal for Fresh Hearing [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore, has restored an appeal for fresh adjudication after finding that appellate notices were largely issued to incorrect email addresses and that the...
![Improper Email Service and CA’s Demise is Valid Cause for Non-Compliance: ITAT restores Income Tax Appeal for Fresh Hearing [Read Order]](https://images.taxscan.in/h-upload/2025/09/23/500x300_2090142-email-service-ca-valid-cause-for-non-compliance-taxscan.webp "Improper Email Service and CA’s Demise is Valid Cause for Non-Compliance: ITAT restores Income Tax Appeal for Fresh Hearing [Read Order]")
Foreign Currency Derivative Losses Allowed as Business Expenditure: ITAT quashes Revisionary Income Tax Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad, has quashed a revisionary order passed under Section 263 of the Income Tax Act, 1961, by the Principal Commissioner of Income Tax. The Tribunal...
![Foreign Currency Derivative Losses Allowed as Business Expenditure: ITAT quashes Revisionary Income Tax Order [Read Order]](https://images.taxscan.in/h-upload/2025/09/23/500x300_2090135-foreign-currency-derivative-losses-business-expenditure-taxscan.webp "Foreign Currency Derivative Losses Allowed as Business Expenditure: ITAT quashes Revisionary Income Tax Order [Read Order]")