![ITAT allows exemption to National Internet Exchange of India as charitable activities are undertaken [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/ITAT-exemption-National-Internet-Exchange-of-India-charitable-activities-Nixi-Taxscan.jpg "ITAT allows exemption to National Internet Exchange of India as charitable activities are undertaken [Read Order]")
ITAT allows exemption to National Internet Exchange of India as charitable activities are undertaken [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench allowed the exemption to National Internet Exchange of India as charitable activities are...
![Mitsui India not a DAPE of Mitsui Japan, no question of Computing Income of PE or any disallowance of Commission arises: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/12/Mitsui-India-DAPE-Mitsui-Japan-income-of-PE-disallowance-of-commission-ITAT-Taxscan.jpeg "Mitsui India not a DAPE of Mitsui Japan, no question of Computing Income of PE or any disallowance of Commission arises: ITAT [Read Order]")
![ITAT allows Depreciation claimed on self-valued, unsubstantial intangibles declared as ‘Customers Contract’ and ‘Goodwill’ [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/11/ITAT-unsubstantial-intangibles-Customers-Contract-Goodwill-Taxscan.jpg "ITAT allows Depreciation claimed on self-valued, unsubstantial intangibles declared as ‘Customers Contract’ and ‘Goodwill’ [Read Order]")
![Interest on Deposits/FDR of Co-operative Bank eligible for Deduction u/s 80P(2)(d): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/11/Interest-on-Deposits-FDR-Co-operative-Bank-eligible-for-deduction-Income-Tax-Act-ITAT-Taxscan.jpg "Interest on Deposits/FDR of Co-operative Bank eligible for Deduction u/s 80P(2)(d): ITAT [Read Order]")
![Relief to Standard Chartered Bank: ITAT deletes disallowance of Expenses out of Dividend Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/11/Standard-Chartered-Bank-ITAT-disallowance-Expenses-Dividend-Income-Taxscan.jpg "Relief to Standard Chartered Bank: ITAT deletes disallowance of Expenses out of Dividend Income [Read Order]")
![Provisions of Income Tax Act shall prevail over Accounting Standards: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/Income-Tax-Act-ITAT-Accounting-Standards-Taxscan.jpeg "Provisions of Income Tax Act shall prevail over Accounting Standards: ITAT [Read Order]")
ITAT confirms 10% as a Rate of Depreciation on furniture & fixtures against Microsoft Corporation’s claim of 15%
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, upheld the findings of the CIT(A) and confirmed 10% as the rate of depreciation on furniture and fixtures, instead of 15%. The assessee, M/s...
![Assessing Officer has no Power to Review but has Power to Reassess: Madras High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/08/Assessing-Officer-Madras-High-Court-Power-Reassess-Income-Tax-power-review-Taxscan.jpeg "Assessing Officer has no Power to Review but has Power to Reassess: Madras High Court [Read Judgment]")
Business Loss can’t be equated with Expenditure: S. 115JB doesn’t cover Loss incurred in redemption of Mutual Fund, says ITAT
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the business loss and business expenditure are different and the same cannot be equated since the expenditure is indicative of...
Entire Purchase can’t be treated as Bogus when payment has been made through Banking Channels: ITAT
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the entire purchases cannot be treated as bogus when it is evident that the payments were made through accounted money or...
![Capital Gain Deduction can’t be denied on ground of Procedural Lapses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/Capital-Gain-ITAT-Taxscan-1.jpg "Capital Gain Deduction can’t be denied on ground of Procedural Lapses: ITAT [Read Order]")
ITAT directs AO to allow Depreciation on Actual Cost of Assets without reducing the amount of Subsidy to Nestle India [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench directed AO to allow depreciation on the actual cost of assets without reducing the amount of subsidy to Nestle India. The assessee company,...
![ITAT directs AO to allow Depreciation on Actual Cost of Assets without reducing the amount of Subsidy to Nestle India [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/Nestle-AO-ITAT-Actual-Cost-Taxscan.jpg "ITAT directs AO to allow Depreciation on Actual Cost of Assets without reducing the amount of Subsidy to Nestle India [Read Order]")