The  Kolkata bench of Income Tax Appellate Tribunal (ITAT) deleted the disallowance of payment  made on account of the  Forward Contract Loss incurred towards hedging  Foreign Exchange Fluctuation Loss on the  FCNRB Loan Account. The

The Kolkata bench of Income Tax Appellate Tribunal (ITAT) directed readjudication on finding that the assessing officer misconstrued the directions given by the Principle Commissioner of Income Tax (PCIT) in revisionary order regarding the payments

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) ruled in favor of the taxpayer, deleting an addition of 28 lakhs after the taxpayer successfully substantiated the source of a cash deposit with sufficient

The two member bench of the Income Tax Appellate Tribunal ( ITAT ) Mumbai has ruled that expenditure incurred by Asian Paints on research and development was eligible for deduction under Section 35 ( 2AB

GST registration is the pivotal process of acquiring a distinct identification number for businesses obligated to pay Goods and Services Tax ( GST ). Introduced in 2017, the GST has simplified indirect taxes. Prior to

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) deleted the addition made under Section 69 of the Income Tax Act, 1961 when finding that capital gains earned from the sale of shares of

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that expenditures on freebies to doctors by the pharmaceutical sector violate Medical Council of India ( MCI ) regulations and disallows deductions

The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) held that no disallowance shall be made on interest expense claimed in respect of ST RRB Credit Refinance Fund of National Bank for Agriculture &

The ITAT has directed Asian Paints to file necessary documents after the company failed to furnish supporting details for its deduction claim of sundry balances written off.  The Asian Paints has written off various old

The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) directed readjudication with respect to the liability of property tax paid on behalf of the collector. Further observed that the lower authority did not

A Division bench of the Bombay High Court has held that reopening of Income Tax assessment on the sole basis of change of opinion is invalid when the same is barred by limitation. The petitioner

The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) while providing relief to National Bank for Agriculture & Rural Development ( NABARD ) allowed Interest Expenditure incurred from the Government set up fund of RIDF

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) granted deductions for notice pay, scrap sales and miscellaneous income under Section 80 IC of the Income Tax Act, 1961 The assessee has

The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) after observing the deduction under Section 36(1)(xii) of Income Tax Act, 1961 can only claim with respect to expenditure incurred on Promotional Activities “notified entities” directs readjudication for examining the

A Division bench of the Bombay High Court has held that the Taxation and Other Laws (Relaxation and Amendment of certain provisions) Act, 2020 is not applicable for FY 2014-15. The petitioner is engaged in