ACCA Survey Exposes Decrease in Confidence Amongst Accountancy Professionals
The latest Global Economic Conditions Survey ( GECS ) conducted by the Association of Chartered Certified Accountants ( ACCA ) and the Institute of...
![Relief to Britannia Industries: ITAT Allows claim of Deduction for Lease Premium on ground of Absence of Capital Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Relief-Relief-to-Britannia-Industries-Britannia-Industries-ITAT-claim-Deduction-claim-of-Deduction-ITAT-Allows-claim-of-Deduction-Lease-Premium-Capital-Expenditure-taxscan.jpg "Relief to Britannia Industries: ITAT Allows claim of Deduction for Lease Premium on ground of Absence of Capital Expenditure [Read Order]")
![Payment of Money to Retiring Partner is Capital Expenditure : ITAT Reverses CIT(A) Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Payment-of-Money-Payment-Money-Retiring-Partner-Capital-Expenditure-Expenditure-CITA-Order-ITAT-taxscan-1.jpg "Payment of Money to Retiring Partner is Capital Expenditure : ITAT Reverses CIT(A) Order [Read Order]")
![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]")
Depreciation on Fixed Assets Permissible Despite Application of Income Claimed During Purchase Year; No Double Deduction Involved: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that claiming depreciation on fixed assets is permissible even if the application of income had been previously claimed during the...
![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]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the expenses incurred for repair and maintenance of damaged assets on fire are capital expenditure. Hence, the bench upholds the...
![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]
The Raipur bench of the Income Tax Appellate Tribunal directed readjudication for disallowing the 2/3rd of Repair and Maintenance Expenditure as Capital Expenditure for Chhattisgarh State Power...
![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]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that expenditure claimed on account of forward premium relating to forward contracts in respect of foreign currency...
![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...
