The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has allowed the deduction holding that the Employees Stock Award Plan (ESOP) expenses could be claimed in the year of vesting. The assessee company, Deutsche Asset

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has disallowed the education expenditure under Section 37(1) of the Income Tax Act 1961 as the assessee failed to substantiate the expenditure had incurred exclusively for

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the income portion of on-money could be assessable in the year in which the sale of flats has been declared. The assessee, Magnates

The Pune bench of the Income Tax Appellate Tribunal (ITAT) directed re-adjudication to the assessing officer for the disallowance made on the ground of the nonsubmission of business vouchers.  Garve Motors Private Limited, the appellant

The Pune bench of the Income Tax Appellate Tribunal (ITAT) upheld the revisionary order passed by the assessing officer on the ground of twin satisfaction envisaged under section 263 of the Income Tax Act,1961.  Abhishek

The service tax paid by the contractor for the value of the work is not included in gross receipts for the purposes of computing the assessee's presumptive tax under Section 44AD of the Income Tax

The Kolkata bench of Income Tax Appellate Tribunal (ITAT) has held that no penalty should be levied under section 271B of Income Tax Act, 1961, if the assessee proved the reasonable cause for failure to

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that no addition could be made under Section 69A of the Income Tax Act 1961 if repaid loan transactions are recorded in book of

The Kolkata bench of Income Tax Appellate Tribunal (ITAT) allowed exemption under section 11 of Income Tax Act 1961 on delayed filing of return of income and Form 10B due to the outbreak of Pandemic

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A Division Bench of the Jharkhand High Court confirmed the deletion of income tax addition on Business expenses under “Provision for Warranty Expenses”. The Respondent-assessee,Heavy Engineering Corporation Limited, is a government of India undertaking and

The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted the addition on disallowance of subcontract expenses on ground of lack of evidence. The appeal was filed by the asessee V M

The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition made by the assessing officer by treating the agriculture income as income from the undisclosed sources.  Lalit Kumar, the appellant assessee claimed

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that the residuary provisions which are present under the Income Tax Act are not applicable to disallowances for late payment of Employees' Provident Fund (EPF)