![Depreciation allowable on Toll Collection Rights: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Depreciation-Toll-Collection-Rights-ITAT-Taxscan.jpg "Depreciation allowable on Toll Collection Rights: ITAT [Read Order]")
Depreciation allowable on Toll Collection Rights: ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the depreciation under section 32 of the Income Tax Act, 1961 is allowable...
![30% Depreciation allowable to Motor Lorries used in Business of Transportation of Goods on Hire: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Depreciation-Motor-Lorries-Business-Transportation-of-Goods-Hire-ITAT-Taxscan.jpeg "30% Depreciation allowable to Motor Lorries used in Business of Transportation of Goods on Hire: ITAT [Read Order]")
![CBDT issues Guidelines for Computation of Exemption in the hands of Abu Dhabi Investment Authority [Read Notification]](https://www.taxscan.in/wp-content/uploads/2022/05/CBDT-Computation-of-Exemption-Abu-Dhabi-Investment-Authority-Taxscan.jpeg "CBDT issues Guidelines for Computation of Exemption in the hands of Abu Dhabi Investment Authority [Read Notification]")
![Exception to CBDT Circular specifying Monetary Limit for filing Appeal not Applicable If Assessee provides Full Information about Foreign Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Exception-CBDT-Circular-Monetary-Limit-filingl-Assessee-Information-Foreign-Income-ITAT-Taxscan.jpeg "Exception to CBDT Circular specifying Monetary Limit for filing Appeal not Applicable If Assessee provides Full Information about Foreign Income: ITAT [Read Order]")
![Private Discretionary Trust is AOP, CBDT Circular treating the same as Individual due to Difficulties in E-filing Software can’t be Relied: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Private-Discretionary-Trust-AOP-CBDT-Circular-Individual-E-filing-Software-ITAT-Taxscan.jpeg "Private Discretionary Trust is AOP, CBDT Circular treating the same as Individual due to Difficulties in E-filing Software can’t be Relied: ITAT [Read Order]")
Income Tax cannot be levied on Compensation received from Compulsory Acquisition of Land: ITAT [Read Order]
The Vishakhapatnam bench of the ITAT, comprising Shri Duvvuru Rl Reddy, Judicial Member & Shri S Balakrishnan, Accountant Member has held that the department cannot impose income tax on the...
![Income Tax cannot be levied on Compensation received from Compulsory Acquisition of Land: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Income-Tax-Compensation-Compulsory-Acquisition-Land-ITAT-Taxscan.jpg "Income Tax cannot be levied on Compensation received from Compulsory Acquisition of Land: ITAT [Read Order]")
Income Tax: CBDT Circular doesn’t empower Assessing Officer to take Advantage of Assessees’ Ignorance and collect More Tax, rules Karnataka High Court [Read Judgment]
In an assessee-friendly ruling, the Karnataka High Court has held that the Assessing Officer cannot take advantage of the ignorance on the part of the assessee to collect more tax amount than is...
![Income Tax: CBDT Circular doesn’t empower Assessing Officer to take Advantage of Assessees’ Ignorance and collect More Tax, rules Karnataka High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2022/03/Income-Tax-CBDT-Circular-Assessing-Officer-Assessees-Ignorance-Tax-Karnataka-High-Court-Taxscan.jpg "Income Tax: CBDT Circular doesn’t empower Assessing Officer to take Advantage of Assessees’ Ignorance and collect More Tax, rules Karnataka High Court [Read Judgment]")
Relief to Union Bank: ITAT quashes Income Tax Reassessment as No New Material brought on Record [Read Order]
The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench while granting relief to the Union Bank of India quashed reassessment as no new material brought on record. The assessee, Union Bank of...
![Relief to Union Bank: ITAT quashes Income Tax Reassessment as No New Material brought on Record [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/Union-Bank-of-India-ITAT-reassessment-taxscan.jpeg "Relief to Union Bank: ITAT quashes Income Tax Reassessment as No New Material brought on Record [Read Order]")
Freebies to Doctors: Income Tax Deduction to Pharma Companies can’t be denied invoking CBDT Circulars, says ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the income tax department cannot deny Income Tax Deduction to Pharma companies on expenses incurred on providing freebies to...
![Freebies to Doctors: Income Tax Deduction to Pharma Companies can’t be denied invoking CBDT Circulars, says ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/ITAT-Income-Tax-Deduction-DoctorsPharma-Companies-Freebies-Doctors-Taxscan.jpg "Freebies to Doctors: Income Tax Deduction to Pharma Companies can’t be denied invoking CBDT Circulars, says ITAT [Read Order]")
Supply of Software and Other Services are not Royalty or FTS, not Taxable: Delhi HC [Read Judgment]
The Delhi High Court on a writ petition filed by PARADIGM GEOPHYSICAL PVT LTD held that the supply of software and other services are not Royalty/ Fees for Technical Services(FTS) and therefore, the...
![Supply of Software and Other Services are not Royalty or FTS, not Taxable: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/05/Software-Services-GST-Taxscan.jpg "Supply of Software and Other Services are not Royalty or FTS, not Taxable: Delhi HC [Read Judgment]")
![License Fees for use of IT Parks Assessable as Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/License-Fee-Business-Income-ITAT-Taxscan.jpg "License Fees for use of IT Parks Assessable as Business Income: ITAT [Read Order]")
![Credit Card Commission to Banks does not attract TDS: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Credit-Card-Payments-Taxscan.jpg "Credit Card Commission to Banks does not attract TDS: ITAT [Read Order]")