![Onetime Payment of Annual Rent as per the Lease Deed is Revenue Expenditures: ITAT Allows Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Expenditures-TAXSCAN.jpg "Onetime Payment of Annual Rent as per the Lease Deed is Revenue Expenditures: ITAT Allows Deduction [Read Order]")
Onetime Payment of Annual Rent as per the Lease Deed is Revenue Expenditures: ITAT Allows Deduction [Read Order]
The Income Tax Appellate Tribunal (ITAT) held that one-time payment of annual lease rent paid does not lose the character of the annual rent, so it...
![CBDT Circular or Instructions cant be inconsistent with SC Decisions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Assessment-Order-ITAT-Taxscan.jpg "CBDT Circular or Instructions cant be inconsistent with SC Decisions: ITAT [Read Order]")
![CIT has No Power to Assess Objectives of Charitable Entities u/s 11A: Chhattisgarh High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/05/Reassessment-Chhattisgarh-High-Court-Taxscan.jpg "CIT has No Power to Assess Objectives of Charitable Entities u/s 11A: Chhattisgarh High Court [Read Judgment]")
![CBDT extends due date of CIT to dispose off belated Applications in Filing of Form 10B [Read Circular]](https://www.taxscan.in/wp-content/uploads/2018/01/Audit-Report-Taxscan.jpg "CBDT extends due date of CIT to dispose off belated Applications in Filing of Form 10B [Read Circular]")
Bombay High Court appreciates CIT’s Efforts to Address injustice caused to Taxpayer [Read Judgment]
The Bombay High Court recently while disposing of a Writ Petition, took time to appreciate the timely intervention and efforts of the Principal Commissioner of Income Tax to resolve a problem faced by...
![Bombay High Court appreciates CIT’s Efforts to Address injustice caused to Taxpayer [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/04/CBDT-Bombay-High-Court-Taxscan.jpg "Bombay High Court appreciates CIT’s Efforts to Address injustice caused to Taxpayer [Read Judgment]")
CIT cannot reject Registration to Trust merely on Ground of Non-Production of Books and Vouchers: ITAT [Read Order]
The New Delhi bench comprising of Judicial Member Kuldip Singh and Accountant Member R. K. Panda held that CIT was not justified in rejecting the claim of registration under Section 12AA of the Income...
![CIT cannot reject Registration to Trust merely on Ground of Non-Production of Books and Vouchers: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Trust-Taxscan.jpg "CIT cannot reject Registration to Trust merely on Ground of Non-Production of Books and Vouchers: ITAT [Read Order]")
Staff Welfare Expenses are not Contingent Liability if it was in terms with AS-4 and it subsequently discharged by the Assessee: ITAT Allows Claim [Read Order]
The Income Tax Appellate Tribunal [ITAT], Delhi Bench, has allowed the claim of staff welfare expense not a contingent liability in terms with AS-4. The Delhi bench of ITAT including Shri H.S. Sidhu,...
![Loss on the sale of Mutual Fund is Business Loss, Not Capital Loss: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/Mutual-Fund-Taxscan.jpg "Loss on the sale of Mutual Fund is Business Loss, Not Capital Loss: ITAT Delhi [Read Order]")
Amendment in Sec 201(1) of the Income Tax Act is Retrospective in nature, rules ITAT Kolkata [Read Order]
While confirming the deletion of the disallowance of amount spent on machine hire charges, the Income Tax Appellate Tribunal, Kolkata bench has ruled that TDS provisions are not applicable if the...
![Amendment in Sec 201(1) of the Income Tax Act is Retrospective in nature, rules ITAT Kolkata [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "Amendment in Sec 201(1) of the Income Tax Act is Retrospective in nature, rules ITAT Kolkata [Read Order]")
Matters relating to Deduction of Expenditure under Wrong Head must be Remanded to AO: Punjab & Haryana HC [Read Judgment]
In a recent decision, the High Court of Punjab & Haryana observed that if the appellate authority deems that the expenditures entitled to be deducted are computed under wrong head, the matter...
![Matters relating to Deduction of Expenditure under Wrong Head must be Remanded to AO: Punjab & Haryana HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Punjab-and-Haryana-High-Court-Tax-Scan.jpg "Matters relating to Deduction of Expenditure under Wrong Head must be Remanded to AO: Punjab & Haryana HC [Read Judgment]")
Share Issue Expenses and the Amount of Bonus paid to Employees are allowable as Expenditure: Supreme Court [Read Judgment]
In a recent decision, the Supreme Court held that the share issue expenses are allowable under section 35D of the Income Tax Act, 1961. The Supreme Court bench comprising of Justice A K Sikri and...
![Share Issue Expenses and the Amount of Bonus paid to Employees are allowable as Expenditure: Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Supreme-Court-of-India-Tax-Scan-1.jpg "Share Issue Expenses and the Amount of Bonus paid to Employees are allowable as Expenditure: Supreme Court [Read Judgment]")