![Interest paid on Convertible Debentures is not Interest on Equity and allowable as Expenditure u/s. 36(1)(iii): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Interest-paid-convertible-debentures-interest-equity-expenditure-ITAT-taxscan.jpg "Interest paid on Convertible Debentures is not Interest on Equity and allowable as Expenditure u/s. 36(1)(iii): ITAT [Read Order]")
Interest paid on Convertible Debentures is not Interest on Equity and allowable as Expenditure u/s. 36(1)(iii): ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore held that Interest paid on convertible debentures is not interest on equity and allowable as...
![Demand to late fee u/s. 234E not sustainable for TDS filed before 1st June 2015: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Demand-late-fee-TDS-ITAT-taxscan.jpg "Demand to late fee u/s. 234E not sustainable for TDS filed before 1st June 2015: ITAT [Read Order]")
![Foreign Travel Expenses to secure Capital Investment cannot be allowed as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Foreign-Travel-Expenses-Capital-Investment-Business-Expenditure-ITAT-taxscan.jpg "Foreign Travel Expenses to secure Capital Investment cannot be allowed as Business Expenditure: ITAT [Read Order]")
![Capital Gain does not attract in case of permissive Possession in Immovable Property, not Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Capital-Gain-property-ITAT-taxscan.jpg "Capital Gain does not attract in case of permissive Possession in Immovable Property, not Taxable: ITAT [Read Order]")
![Contract based on which Addition is made is Subject Matter of Litigation: Protective Assessment can’t be made, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Contract-Litigation-Protective-Assessment-ITAT-Taxscan.jpeg "Contract based on which Addition is made is Subject Matter of Litigation: Protective Assessment can’t be made, rules ITAT [Read Order]")
Set off of Income under ‘House Property’ against Loss is not allowable to Closed Business: ITAT [Read Order]
The Bangalore Bench, of the Income Tax Appellate Tribunal, held that set-off of income under ‘house property’ against loss is not allowable to a closed business. The assessee was represented by...
![Set off of Income under ‘House Property’ against Loss is not allowable to Closed Business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Income-house-property-loss-business-ITAT-taxscan.jpg "Set off of Income under ‘House Property’ against Loss is not allowable to Closed Business: ITAT [Read Order]")
![Section 153C Assessment cannot be based on Presumptions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Assessment-presumption-ITAT-Section-153C-Taxscan.jpg "Section 153C Assessment cannot be based on Presumptions: ITAT [Read Order]")
Income Tax Penalty cannot be imposed for Claim of Expenditure due to Wrong Professional Advice: ITAT
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the income tax penalty under section 271(1) of the Income Tax Act, 1961 cannot be imposed for the claim of expenditure...
Advance from Overseas Patients cannot be treated as Capital Receipts: ITAT Ruling on Medical Tourism [Read Order]
The Bangalore bench of the ITAT, in a significant ruling on medical tourism, has held that the advance from overseas patients cannot be treated as capital receipts since the same cannot remain...
![Advance from Overseas Patients cannot be treated as Capital Receipts: ITAT Ruling on Medical Tourism [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Advance-from-Overseas-Patients-treated-as-Capital-Receipts-ITAT-Ruling-Medical-Tourism-Taxscan.jpeg "Advance from Overseas Patients cannot be treated as Capital Receipts: ITAT Ruling on Medical Tourism [Read Order]")
![Delay in filing Form 67 can’t be a reason to deny Foreign Tax Credit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Delay-filing-Form-67-Foreign-Tax-Credit-ITAT-tax-credit-Taxscan.jpg "Delay in filing Form 67 can’t be a reason to deny Foreign Tax Credit: ITAT [Read Order]")
Karnataka Judicial Officers Credit Co-operative Society entitled for Income Tax Deduction on Proportionate Cost, Administrative, Other Expenses: ITAT remits matter to AO [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench while remitting the matter back to the Assessing Officer (AO) ruled that the Karnataka Judicial Officers Credit Co-operative Society entitled...
![Karnataka Judicial Officers Credit Co-operative Society entitled for Income Tax Deduction on Proportionate Cost, Administrative, Other Expenses: ITAT remits matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/Karnataka-Judicial-Officers-Credit-Co-operative-Society-Income-Tax-Deduction-proportionate-cost-ITAT-AO-Taxscan.jpg "Karnataka Judicial Officers Credit Co-operative Society entitled for Income Tax Deduction on Proportionate Cost, Administrative, Other Expenses: ITAT remits matter to AO [Read Order]")
Penalty can’t be imposed for Non-Deduction of TDS as quantum of Payment not determinable: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the penalty can not be imposed for non-deduction of TDS as the quantum of payment is not determinable. The assessee, Biocon Ltd....
![Penalty can’t be imposed for Non-Deduction of TDS as quantum of Payment not determinable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/Penalty-non-deduction-of-TDS-ITAT-Taxscan.jpg "Penalty can’t be imposed for Non-Deduction of TDS as quantum of Payment not determinable: ITAT [Read Order]")