![Compensation Amount Unrelated to Sale Cost Cannot be Treated as Capital Expenditure u/s 37: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Compensation-Amount-Unrelated-Sale-Cost-Treated-Capital-Expenditure-ITAT-taxscan.jpg "Compensation Amount Unrelated to Sale Cost Cannot be Treated as Capital Expenditure u/s 37: ITAT [Read Order]")
Compensation Amount Unrelated to Sale Cost Cannot be Treated as Capital Expenditure u/s 37: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that Compensation amount not having any relation with the cost towards the sale of...
![Depreciation on Fixed Assets Permissible Despite Application of Income Claimed During Purchase Year; No Double Deduction Involved: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Depreciation-Fixed-Assets-Permissible-Despite-Income-Double-Deduction-ITAT-TAXSCAN.jpg "Depreciation on Fixed Assets Permissible Despite Application of Income Claimed During Purchase Year; No Double Deduction Involved: ITAT [Read Order]")
![Expenses incurred for Repair and Maintenance of Damaged Assets on Fire are Capital Expenditure: ITAT upholds Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Expenses-incurred-for-Repair-and-Maintenance-of-Damaged-Assets-on-Fire-are-Capital-Expenditure-ITAT-upholds-disallowance-TAXSCAN.jpg "Expenses incurred for Repair and Maintenance of Damaged Assets on Fire are Capital Expenditure: ITAT upholds Disallowance [Read Order]")
![AO disallows 2/3rd of Repair and Maintenance Expenditure as Capital Expenditure for Chhattisgarh State Power Transmission: ITAT directs Re adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/AO-Repair-and-Maintenance-Expenditure-as-Capital-Expenditure-for-Chhattisgarh-State-Power-Transmission-ITAT-directs-Readjudication-TAXSCAN.jpg "AO disallows 2/3rd of Repair and Maintenance Expenditure as Capital Expenditure for Chhattisgarh State Power Transmission: ITAT directs Re adjudication [Read Order]")
![Expenditure Claimed on account of Forward Premium relating to Forward Contracts in respect of Foreign Currency Loans are Capital Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Expenditure-Claimed-on-account-of-Forward-Premium-relating-to-Forward-Contracts-in-respect-of-Foreign-Currency-Loans-are-Capital-Expenditure-ITAT-TAXSCAN.jpg "Expenditure Claimed on account of Forward Premium relating to Forward Contracts in respect of Foreign Currency Loans are Capital Expenditure: ITAT [Read Order]")
Central Govt releases 14th Installment of Tax Devolution to States, Aims to accelerate Capital and Developmental Expenditure
The Central government released the 14th Tax devolution to the states. As per the reports 41% of the total tax collected by the centre in the fiscal year is distributed. The Union Government has...
Income Calculated without considering Capital Expenditure is not valid: Orissa HC upholds ITAT Order [Read Order]
The High Court (HC) of Orissa while upholding the order passed by Income Tax Appellate Tribunal ( ITAT ) held that the total Revenue Earned calculated without considering the capital expenditure is...
![Income Calculated without considering Capital Expenditure is not valid: Orissa HC upholds ITAT Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Income-Capital-Expenditure-Orissa-High-Court-ITAT-ITAT-Order-Taxscan.jpg "Income Calculated without considering Capital Expenditure is not valid: Orissa HC upholds ITAT Order [Read Order]")
Cess on Royalty Payment is Deductible when Entire Amount of Royalty Paid was Deleted: ITAT Grants Relief to Maruti Suzuki [Read Order]
While granting relief the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has held that Cess on royalty payment is deductible when the entire amount of royalty paid was deleted. Maruti...
![Cess on Royalty Payment is Deductible when Entire Amount of Royalty Paid was Deleted: ITAT Grants Relief to Maruti Suzuki [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Cess-Cess-on-Royalty-Payment-Royalty-Payment-Amount-ITAT-Maruti-Suzuki-Taxscan.jpg "Cess on Royalty Payment is Deductible when Entire Amount of Royalty Paid was Deleted: ITAT Grants Relief to Maruti Suzuki [Read Order]")
Budget 2023: Major ongoing initiatives of the Indian Railways and Increase in Capital Expenditure [Read Report]
The Economic Survey 2023, tabled before the parliament by the Financial Minister Nirmala Sitharaman and prepared by the Chief Economic Adviser V. Anantha Nageswaran, reviewed the performance of the...
Entries in Books of Account not conclusive in determining Income: ITAT holds Lease Rental paid is Revenue in Nature [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that entries in books of account not conclusive in determining income. During the assessment proceedings, the assessee, J.M. Morgan...
![Entries in Books of Account not conclusive in determining Income: ITAT holds Lease Rental paid is Revenue in Nature [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Entries-in-Books-of-Account-Books-of-Account-Income-ITAT-Lease-Rental-taxscan.jpg "Entries in Books of Account not conclusive in determining Income: ITAT holds Lease Rental paid is Revenue in Nature [Read Order]")