![AO erred in denying Preludesys India the benefit of deduction on the ‘deemed export’ made to another STP unit: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/09/Preludesys-India-Taxscan.jpeg "AO erred in denying Preludesys India the benefit of deduction on the ‘deemed export’ made to another STP unit: Madras HC [Read Judgment]")
AO erred in denying Preludesys India the benefit of deduction on the ‘deemed export’ made to another STP unit: Madras HC [Read Judgment]
The Madras High Court while answering in favour of the Preludesys India said that the Tribunal erred in denying Preludesys India the benefit of...
![ITAT condones delay since misplacing of CIT(A) order by regular Tax Consultant isn’t deliberate delay on part of assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/09/ITAT-CITA-Tax-Audit-Taxscan.jpeg "ITAT condones delay since misplacing of CIT(A) order by regular Tax Consultant isn’t deliberate delay on part of assessee [Read Order]")
![Assessing Officer rightly disallowed Depreciation on the Purchase of Windmill: Madras High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/09/Assessing-Officer-Madras-High-Court-windmill-Taxscan.jpg "Assessing Officer rightly disallowed Depreciation on the Purchase of Windmill: Madras High Court [Read Judgment]")
![No section 14A disallowance if there is no exempt income: ITAT grants relief to Tata Sky [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/09/ITAT-disallowance-Tata-Sky-Taxscan.jpg "No section 14A disallowance if there is no exempt income: ITAT grants relief to Tata Sky [Read Order]")
Interest on Bank Deposits is also eligible to be included in profits of 100% EOU for claiming Deduction: Madras HC [Read Judgment]
The Madras High Court held that the interest on bank deposits is also eligible to be included in profits of 100% Export Oriented Unit (EOU) for claiming deduction under Section 10A or 10B of the...
![Interest on Bank Deposits is also eligible to be included in profits of 100% EOU for claiming Deduction: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/09/Interest-bank-deposits-EOU-profits-claiming-deduction-Taxscan.jpg "Interest on Bank Deposits is also eligible to be included in profits of 100% EOU for claiming Deduction: Madras HC [Read Judgment]")
Forfeiture of Security Deposit shall be treated as Capital Loss: ITAT grants relief to Ebony Retail [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench while upholding the order passed by the CIT(A) held that disallowance made on account of forfeiture of security deposit being treated as capital...
![Forfeiture of Security Deposit shall be treated as Capital Loss: ITAT grants relief to Ebony Retail [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/09/ITAT-forfeiture-Security-Deposit-Taxscan.jpg "Forfeiture of Security Deposit shall be treated as Capital Loss: ITAT grants relief to Ebony Retail [Read Order]")
![ITAT deletes disallowance representing Customer Support Charges against Dish TV India Ltd [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/09/Dish-TV-India-ITAT-Taxscan.jpeg "ITAT deletes disallowance representing Customer Support Charges against Dish TV India Ltd [Read Order]")
![Compensation from Builder on cancellation of flat taxable as Other Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/09/ITAT-flat-compensation-Taxscan.jpg "Compensation from Builder on cancellation of flat taxable as Other Income: ITAT [Read Order]")
While computing Capital Gains benefit of indexed Cost of Acquisition is to be considered for computing Tax liability: Karnataka High Court [Read Judgment]
The Karnataka High Court quashed the order of the ITAT as it did not consider the reasoning that while computing capital gains the benefit of indexed cost of acquisition is to be considered for the...
![While computing Capital Gains benefit of indexed Cost of Acquisition is to be considered for computing Tax liability: Karnataka High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/09/Capital-Gains-Cost-Acquisition-Karnataka-High-Court-Taxscan.jpg "While computing Capital Gains benefit of indexed Cost of Acquisition is to be considered for computing Tax liability: Karnataka High Court [Read Judgment]")
Provision for Warranty is allowable as Deduction when the assessee has not made provision on a Scientific basis: Karnataka HC [Read Judgment]
The Karnataka High Court held that the provision for warranty is allowable as deduction when the assessee has not made provision on a scientific basis.The assessee filed the return of income for the...
![Provision for Warranty is allowable as Deduction when the assessee has not made provision on a Scientific basis: Karnataka HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/08/provision-warranty-deduction-assessee-Amco-Battery-Karnataka-High-Court-Taxscan.jpg "Provision for Warranty is allowable as Deduction when the assessee has not made provision on a Scientific basis: Karnataka HC [Read Judgment]")
![Expenditure on Replacement of Jigs and Fixtures is Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/08/ITAT-Expenditure-Taxscan.jpg "Expenditure on Replacement of Jigs and Fixtures is Revenue Expenditure: ITAT [Read Order]")