![FCCB issue expenses included as part of FCCB Premium Expenses allowable as Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/FCCB-issue-expenses-included-as-part-of-FCCB-Premium-Expenses-ITAT-TAXSCAN.jpg "FCCB issue expenses included as part of FCCB Premium Expenses allowable as Deduction: ITAT [Read Order]")
FCCB issue expenses included as part of FCCB Premium Expenses allowable as Deduction: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has recently held that Foreign Currency Convertible Bond (FCCB) issue expenses included as...
![Expenses Recorded in Cash Book Subsequent to Survey not Bogus: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Expenses-Cash-Book-Subsequent-to-Survey-ITAT-Expenses-Recorded-in-Cash-Book-Expenses-Cash-Book-taxscan.jpg "Expenses Recorded in Cash Book Subsequent to Survey not Bogus: ITAT [Read Order]")
![Reopening Done without Application of Mind based on Misunderstood Facts not Valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Reopening-Done-without-Application-of-Mind-based-on-Misunderstood-Facts-not-Valid-Reopening-Done-without-Application-of-Mind-Reopening-ITAT-Taxscan.jpg "Reopening Done without Application of Mind based on Misunderstood Facts not Valid: ITAT [Read Order]")
![No addition can be made on amount debited to “Employees Share Option Scheme” for benefit of Employees of Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/amount-debited-to-Employees-Share-Option-Scheme-Employees-of-Company-Employees-Share-Option-Scheme-ITAT-taxscan.jpg "No addition can be made on amount debited to “Employees Share Option Scheme” for benefit of Employees of Company: ITAT [Read Order]")
Once Ad-hoc Addition is made and Estimate is reduced by Tribunal, No Penalty on Concealment of Income u/S 271 (1)(c) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench in an appeal filed before it, held that once addition has been made on adhoc and estimate which has been reduced by the tribunal, then no...
![Once Ad-hoc Addition is made and Estimate is reduced by Tribunal, No Penalty on Concealment of Income u/S 271 (1)(c) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Tribunal-Penalty-on-Concealment-of-Income-Penalty-Concealment-of-Income-Income-Tax-Act-ITAT-taxscan.jpg "Once Ad-hoc Addition is made and Estimate is reduced by Tribunal, No Penalty on Concealment of Income u/S 271 (1)(c) of Income Tax Act: ITAT [Read Order]")
Income from Carriage of Goods and for Operating Ship Taxable u/s 44B of Income Tax Act: ITAT [Read Order]
The bench of Amit Shukla and Gagan Goyal of Mumbai Income Tax Appellate Tribunal ruled that Income from carriage of goods and for operating ships is taxable under section 44B of the Income Tax Act,...
![Income from Carriage of Goods and for Operating Ship Taxable u/s 44B of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Carriage-of-Goods-Income-Income-from-Carriage-of-Goods-Operating-Ship-Income-Tax-Act-Income-Tax-ITAT-taxscan.jpg "Income from Carriage of Goods and for Operating Ship Taxable u/s 44B of Income Tax Act: ITAT [Read Order]")
![NRI’s Income or Deposit in Foreign Bank Account cannot be Taxed in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/NRI-Income-NRIs-Income-Deposit-Foreign-Bank-Account-Bank-Account-Taxed-Tax-ITAT-Income-Tax-taxscan.jpg "NRI’s Income or Deposit in Foreign Bank Account cannot be Taxed in India: ITAT [Read Order]")
![Insurance Premium for paid for Keyman Insurance Policy of LIC, allowable as Expenses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Insurance-Premium-Keyman-Insurance-Policy-LIC-Keyman-Insurance-Policy-of-LIC-Expenses-ITAT-Income-Tax-taxscan.jpg "Insurance Premium for paid for Keyman Insurance Policy of LIC, allowable as Expenses: ITAT [Read Order]")
Travelling Expenses as being incurred wholly and exclusively for the purpose of Business can be allowed as Deduction: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the travelling expenses being incurred wholly and exclusively for business can be allowed as a deduction. M/s. Express...
![Travelling Expenses as being incurred wholly and exclusively for the purpose of Business can be allowed as Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Travelling-Expenses-Business-Deduction-ITAT-taxscan.jpg "Travelling Expenses as being incurred wholly and exclusively for the purpose of Business can be allowed as Deduction: ITAT [Read Order]")
![Relief to Novartis India: ITAT allows Tax Neutral Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Novartis-India-ITAT-Tax-Disallowance-taxscan.jpg "Relief to Novartis India: ITAT allows Tax Neutral Disallowance [Read Order]")
Lapse of 15 years to produce Supporting Documents before AO: ITAT disallows Depreciation Claim [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench disallowed depreciation claim as there was Lapse of 15 years to produce supporting documents before Assessing Officer (AO). The assessee,...
![Lapse of 15 years to produce Supporting Documents before AO: ITAT disallows Depreciation Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/documents-AO-ITAT-depreciation-claim-taxscan.jpg "Lapse of 15 years to produce Supporting Documents before AO: ITAT disallows Depreciation Claim [Read Order]")