Assessee’s Non-Compete Fee Payment for Business Purpose Considered as Revenue Expenditure: ITAT
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) recently ruled that the payment of non-competition fee for business purpose is...
![Relief to Finesse International: Business Promotion Expenses for Improving Visibility of Brand Should Not Be Treated Personal, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Relief-to-Finesse-International-Business-Promotion-Expenses-for-Improving-Visibility-of-Brand-Should-Not-Be-Treated-Personal-rules-ITAT-TAXSCAN.jpg "Relief to Finesse International: Business Promotion Expenses for Improving Visibility of Brand Should Not Be Treated Personal, rules ITAT [Read Order]")
Bearer Cheque as Surety of being encashed not Sufficient Explanation of Business Expediency: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision, highlighting that giving the parties a bearer cheque as an assurance...
![Bearer Cheque as Surety of being encashed not Sufficient Explanation of Business Expediency: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Bearer-cheque-as-Surety-Sufficient-explanation-Business-Expediency-ITAT-TAXSCAN-1.jpg "Bearer Cheque as Surety of being encashed not Sufficient Explanation of Business Expediency: ITAT [Read Order]")
No Disallowance of Part of Director’s Remuneration and Depreciation When Business Stopped Due to Temporary Lull: ITAT [Read Order]
The Jodhpur Bench of Income Tax Appellate Tribunal (ITAT) no disallowance shall be made on the part of director’s remuneration when the business is stopped due to temporary lull. The...
![No Disallowance of Part of Director’s Remuneration and Depreciation When Business Stopped Due to Temporary Lull: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/No-Disallowance-of-Part-of-Directors-Remuneration-and-Depreciation-Business-Stopped-Due-to-Temporary-Lull-ITAT-TAXSCAN.jpg "No Disallowance of Part of Director’s Remuneration and Depreciation When Business Stopped Due to Temporary Lull: ITAT [Read Order]")
No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no addition can be made to an undisclosed contract receipt from the business of purchase and sale of fish...
![No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Addition-Undisclosed-Contract-Receipt-Contract-Receipt-Business-of-Purchase-and-Sale-of-Fish-Purchase-and-Sale-of-Fish-ITAT-Deletes-the-Addition-ITAT-Taxscan.jpg "No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]")
Waiver of Cash Loan by Holding Company Not Taxable as Business Income u/s 28(iv) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the waiver of cash loan by a holding company vide Agreement is not taxable as “Income from Profits and Gains from Business and...
![Waiver of Cash Loan by Holding Company Not Taxable as Business Income u/s 28(iv) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Waiver-Cash-Loan-Holding-Company-Taxable-Business-Income-Income-Income-Tax-Act-Income-Tax-ITAT-Taxscan.jpg "Waiver of Cash Loan by Holding Company Not Taxable as Business Income u/s 28(iv) of Income Tax Act: ITAT [Read Order]")
Export Incentives such as Duty Draw Back and MEIS, Assessable as ‘Profits or Gains from Business or Profession’: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Vishakhapatnam Bench, has recently, in an appeal filed before it, held that export incentives such as duty draw back and MEIS, are assessable as ‘profits or...
![Export Incentives such as Duty Draw Back and MEIS, Assessable as ‘Profits or Gains from Business or Profession’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Export-Export-Incentives-Duty-Draw-Back-MEIS-Profits-or-Gains-Profits-Gains-Business-or-Profession-Business-Profession-ITAT-Income-tax-Taxscan.jpg "Export Incentives such as Duty Draw Back and MEIS, Assessable as ‘Profits or Gains from Business or Profession’: ITAT [Read Order]")
Fraudulent Business activities and claim of Fake ITC: Orissa HC orders to furnish Bank Guarantee on non-appearance of driver of Seized Vehicle
The Orissa High Court ordered to furnish bank guarantee on non-appearance of the driver of the seized vehicle with regard to fraudulent business activities and claiming fake Input Tax Credit (ITC)....
