![Expenses on Account of Interest Payment on Loans could not be added while Computing Book Profit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Interest-Payment-Loans-Account-Expenses-ITAT-Taxscan.jpg "Expenses on Account of Interest Payment on Loans could not be added while Computing Book Profit: ITAT [Read Order]")
Expenses on Account of Interest Payment on Loans could not be added while Computing Book Profit: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad held that expenses on account of interest payment on loans could not be added while computing book...
![Foreign Exchange Loss on Repayment of Borrowings is Revenue Expenditure: ITAT allows Relief to Cafe Coffee Day [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Cafe-Coffee-Day-Foreign-Exchange-Revenue-Expenditure-ITAT-Taxscan.jpg "Foreign Exchange Loss on Repayment of Borrowings is Revenue Expenditure: ITAT allows Relief to Cafe Coffee Day [Read Order]")
![A Decision on a Debatable issue is not ‘Mistake Apparent from Record’ for the Purpose of Rectification: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Debatable-issue-Apparent-Mistake-ITAT-ITAT.jpg "A Decision on a Debatable issue is not ‘Mistake Apparent from Record’ for the Purpose of Rectification: ITAT [Read Order]")
![License Fee paid to Indian Railway allowable as Depreciation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Indian-Railway-Depreciation-License-Fee-Income-Tax-Taxscan.jpg "License Fee paid to Indian Railway allowable as Depreciation: ITAT [Read Order]")
![Letting Out of Property and Furniture for Film Exhibition is a Business Activity: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Film-Exhibition-Business-Income-Leased-Out-Assessee-CESTAT-Taxscan.jpg "Letting Out of Property and Furniture for Film Exhibition is a Business Activity: ITAT [Read Order]")
Agricultural Lands not ‘Capital Asset’ If Buyer Company maintains the Land Character: ITAT Delhi [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi in January held that agricultural lands cannot be treated as a capital asset if the company that purchases such land maintains its character as...
![Agricultural Lands not ‘Capital Asset’ If Buyer Company maintains the Land Character: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Agricultural-Land-ITAT-Delhi-Taxscan.jpg "Agricultural Lands not ‘Capital Asset’ If Buyer Company maintains the Land Character: ITAT Delhi [Read Order]")
Remunerations of director not violation of 40(2) if the director is a relative and expenses not proved as excessive and unreasonable: ITAT Delhi [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi has held that remunerations given to a company director, who happens to be a relative do not fall as a disallowance under section 40(2) of the Income Tax...
![Remunerations of director not violation of 40(2) if the director is a relative and expenses not proved as excessive and unreasonable: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Remunerations-ITAT-Taxscan.jpg "Remunerations of director not violation of 40(2) if the director is a relative and expenses not proved as excessive and unreasonable: ITAT Delhi [Read Order]")
MODVAT Credit not allowable as Deduction u/s 43B of Income Tax Act: Supreme Court [Read Judgment]
The Supreme Court in the case of Maruti Suzuki India Ltd v CIT has held that MODVAT credit does not qualify as ‘any sum payable by the assessee by way of tax, duty, cess or fee’ u/s 43B of the Central...
![MODVAT Credit not allowable as Deduction u/s 43B of Income Tax Act: Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/02/MODVAT-Credit-MODVAT-Scheme-Income-Tax-Act-Supreme-Court-Taxscan.jpg "MODVAT Credit not allowable as Deduction u/s 43B of Income Tax Act: Supreme Court [Read Judgment]")
Pharmaceutical Co. on providing Free Medicine Samples to Doctors cannot invoke FBT provisions: Bombay HC [Read Judgment]
The Bombay High Court held that Pharmaceutical Company on providing free medicine samples to doctors cannot invoke Fringe Benefits Tax (FBT)provisions. Aristo Pharmaceuticals, the respondent is...
![Pharmaceutical Co. on providing Free Medicine Samples to Doctors cannot invoke FBT provisions: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/02/Free-Medicine-Samples-Bombay-High-Court-Taxscan.jpg "Pharmaceutical Co. on providing Free Medicine Samples to Doctors cannot invoke FBT provisions: Bombay HC [Read Judgment]")
![Dividend derived from Shares held as Stock in Trade can’t be disallowed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Stock-Exchange-Taxscan.jpg "Dividend derived from Shares held as Stock in Trade can’t be disallowed: ITAT [Read Order]")
No TDS on payment of External Development Charges not made out of any Statutory and Contractual Liability: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT), held that the assessee was not required to deduct TDS as the payment of External Development Charges (EDC) was not made out of any...
![No TDS on payment of External Development Charges not made out of any Statutory and Contractual Liability: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/01/External-Development-Charges-No-TDS-Payment-Delhi-High-Court-ITAT-Taxscan.jpg "No TDS on payment of External Development Charges not made out of any Statutory and Contractual Liability: ITAT [Read Order]")
Clubbing of Income: ITAT allows a claim for Set-off of Loss by Husband invested in Wife's Business [Read Order]
The Income Tax Appellate Tribunal (ITAT) in the case of Uday Gopal Bhaskarwar vs ACIT allowed the appeal against CIT(A) and held that the losses which are incurred in the wife’s business are, which...
![Clubbing of Income: ITAT allows a claim for Set-off of Loss by Husband invested in Wifes Business [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/01/Clubbing-of-Income-Husband-Invest-Wifes-Business-ITAT-Taxscan.jpg "Clubbing of Income: ITAT allows a claim for Set-off of Loss by Husband invested in Wifes Business [Read Order]")