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Deduction u/s 57 for Bank Charges allowable as it Relates to Interest Income: ITAT Allows Claim [Read Order]

Franklin Joshva

The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) ruled that bank charges can be allowed as deductions under Section 57 and directed the...

Computation of Deduction u/s 36(1)(viia)(c) Independent of Deduction u/s 36(1)(viii): ITAT Rejects...

Homebuyer Claims S. 80C Deduction for Housing Loan Repayment, Wins Dept Challenge: Know How ITAT...

AO rejects Deduction u/s 10AA due to Delaying filing Form 56F: ITAT rules Forms are Directory,...

Deduction u/s 80JJAA Disallowed for Non-Filing of Form 10DA: ITAT Restores Matter to AO, Treating...

ITAT Deletes Capital Gains Addition of Rs.55 Lakh from Noida Property, Allows S.54 Deduction After Substantiation [Read Order]

The Chandigarh Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the capital gains addition of Rs.55 lakh from the sale of a Noida property and allowed the deduction under section 54 of...

Deduction u/s 80P(2)(d) Confined to Co-operative Bank Deposits, RRB Interest Treated Separately with Expense Adjustment u/s 57(iii): ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad has ruled on the eligibility of deductions claimed by a co-operative credit society in respect of interest earned from deposits with co-operative...

New Income Tax TDS Form, Requirements from April 1, 2026 with New Act, Rules Implementation: Find Checklist for Preparation Here

The Income Tax Department will roll out a new TDS (Tax Deducted at Source) form that will come into effect from April 1, 2026. The revised format is expected to improve compliance, minimize...

100 bed Requirement for Hospital’s Claim u/s 35AD(8): ITAT allows Deduction after Accepting Medical Director’s Certificate [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Chennai Bench, has upheld the order of the Commissioner of Income Tax (Appeals) [CIT(A)] allowing a substantial deduction claimed by a hospital under...

Kerala Co-op Bank Secures Tax Win: ITAT allows ₹16.5 Lakh Deduction u/s 80P [Read Order]

The Income Tax Appellate Tribunal (ITAT), Cochin bench, has ruled in favor of the appellant a Co-operative Bank, allowing a deduction of ₹16.48 lakh under Section 80P of the Income Tax Act, 1961....

Interest from Cooperative Banks Eligible for 80P Deduction: ITAT Allows ₹12.53 Lakh Claim Treating Banks as Societies [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) held that interest earned from deposits/investments with cooperative banks qualifies for deduction under Section 80P(2)(d) of the Income ...

Total Income 100% Tax-Exempt if S.80P Deduction Allowed: ITAT dismisses appeal noting No Effect on Disallowances [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the appeal, noting that disallowances made by the Assessing Officer (AO) had no tax effect as the assessee was already...