Parliament Passes Maharashtra VAT Amendment Bill 2024
Both legislative houses approved the Maharashtra Value Added Tax Act 2002 (Amendment) Bill, 2024. According to Deputy Chief Minister Ajit Pawar, the...
![Prepaid Finance Charges Deductible in Year of Payment, Amortization Not Necessary: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-Prepaid-Finance-Prepaid-Finance-Charges-Amortization-Amortization-Not-Necessary-itat-about-amortization-Finance-Finance-Charges-tax-news-taxscan.jpg "Prepaid Finance Charges Deductible in Year of Payment, Amortization Not Necessary: ITAT [Read Order]")
![ITAT rules Expenditures on Freebies to Doctors by Pharmaceutical Sector Violate MCI Regulations, Disallows Deductions under Section 37(1) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Expenditures-on-Freebies-Doctors-Pharmaceutical-Sector-Violate-MCI-Regulations-Disallows-Deductions-Income-Tax-Act-taxscan.jpg "ITAT rules Expenditures on Freebies to Doctors by Pharmaceutical Sector Violate MCI Regulations, Disallows Deductions under Section 37(1) of Income Tax Act [Read Order]")
![Compensation Afforestation Fund Contributed by TATA Steel is an allowable Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-Compensation-Afforestation-Fund-TATA-Steel-taxscan.jpg "Compensation Afforestation Fund Contributed by TATA Steel is an allowable Expenditure: ITAT [Read Order]")
Education Cess cannot be allowed as Allowable Expense u/s 37 (1) of Income Tax Act: ITAT [Read Order]
In a recent ruling, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) observed that the education cess cannot be allowed as allowable expense under Section 37 (1) of Income Tax Act, 1961....
![Education Cess cannot be allowed as Allowable Expense u/s 37 (1) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Delhi-Education-Cess-Income-tax-taxscan.jpg "Education Cess cannot be allowed as Allowable Expense u/s 37 (1) of Income Tax Act: ITAT [Read Order]")
ESOP Expenses are allowable expenditure u/s 37(1) of Income Tax Act: ITAT grants relief to HDFC Bank [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that Employee Stock Option Plan ( ESOP ) expenses are allowable expenditure under Section 37(1) of the Income Tax Act, 1961....
![ESOP Expenses are allowable expenditure u/s 37(1) of Income Tax Act: ITAT grants relief to HDFC Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-tax-HDFC-Bank-ESOP-taxscan.jpg "ESOP Expenses are allowable expenditure u/s 37(1) of Income Tax Act: ITAT grants relief to HDFC Bank [Read Order]")
Loan advanced for Repayment of Business Operation Liabilities allowable as Business Expenditure u/s 37 (1): ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT) observed that loan advanced for repayment of business operation liabilities allowable as business expenditure under Section 37(1) of the...
![Loan advanced for Repayment of Business Operation Liabilities allowable as Business Expenditure u/s 37 (1): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-Repayment-of-Business-Operation-TAXSCAN.jpg "Loan advanced for Repayment of Business Operation Liabilities allowable as Business Expenditure u/s 37 (1): ITAT [Read Order]")
ITAT directs Re adjudication on Deduction claiming Interest paid to Maharashtra State Cooperative Bank u/s 37(1) of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Pune bench directed readjudication on deduction claiming the interest paid to Maharashtra State Cooperative Bank under Section 37(1) of the Income Tax Act,...
![ITAT directs Re adjudication on Deduction claiming Interest paid to Maharashtra State Cooperative Bank u/s 37(1) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Pune-Income-Tax-Maharashtra-State-Cooperative-Bank-Tax-deduction-claims-taxscan.jpg "ITAT directs Re adjudication on Deduction claiming Interest paid to Maharashtra State Cooperative Bank u/s 37(1) of Income Tax Act [Read Order]")
Ex-gratia Bonus Paid Over And Above Eligible Bonus To Employees allowable As Business Expenditure of Indian Express: Bombay HC [Read Order]
The Bombay High Court recently ruled that ex gratia bonuses provided to employees, exceeding the eligible bonus under the Payment of Bonus Act, qualify as permissible business expenditures. The...
Expenses incurred towards club membership fee of employees is business expenditure: ITAT grants relief to ICICI Bank [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, while granting relief to assessee ICICI Bank, held that expenses incurred towards the club membership fee of employees are business...
![Expenses incurred towards club membership fee of employees is business expenditure: ITAT grants relief to ICICI Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/business-expenditure-ITAT-ICICI-Bank-TAXSCAN.jpg "Expenses incurred towards club membership fee of employees is business expenditure: ITAT grants relief to ICICI Bank [Read Order]")
Service order by Affixing on factory gate as first option is Illegal as per Section 37 C (1) of Central Excise Act: CESTAT [Read Order]
The Ahmedabad bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that the service of the order by pasting on the factory gate as the first option is not proper and...
![Service order by Affixing on factory gate as first option is Illegal as per Section 37 C (1) of Central Excise Act: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/CESTAT-Central-Excise-Act-Ahmedabad-bench-Affixing-on-factory-gate-taxscan.jpg "Service order by Affixing on factory gate as first option is Illegal as per Section 37 C (1) of Central Excise Act: CESTAT [Read Order]")