![Claim of Deduction by Mistake against Other Property which was otherwise Considerable: ITAT Allows Deduction as to Cost of Improvement u/s 48(ii) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Claim-of-Deduction-by-Mistake-Property-otherwise-Considerable-ITAT-Allows-Deduction-Cost-of-Improvement-.jpg "Claim of Deduction by Mistake against Other Property which was otherwise Considerable: ITAT Allows Deduction as to Cost of Improvement u/s 48(ii) [Read Order]")
Claim of Deduction by Mistake against Other Property which was otherwise Considerable: ITAT Allows Deduction as to Cost of Improvement u/s 48(ii) [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed the deduction as to cost of improvement under Section 48(ii) of Income Tax Act as...
![Mere Delivery Contract provided for Delivery of Securities to the Broker is not Sufficient to Claim Loss in Stock Exchange: ITAT Allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Mere-Delivery-Contract-Delivery-Contract-Mere-Delivery-Contract-provided-for-Delivery-of-Securities-Securities-Claim-Claim-Loss-in-Stock-Exchange-ITAT-taxscan.jpg "Mere Delivery Contract provided for Delivery of Securities to the Broker is not Sufficient to Claim Loss in Stock Exchange: ITAT Allows Appeal [Read Order]")
![Mere observation that Payments Cannot be Verified cannot be a grounds to deny a Claim of Customs Duty Refund: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Payments-observation-Claim-Customs-Duty-Refund-Customs-Duty-Refund-Claim-of-Customs-Duty-Refund-CESTAT-Taxscan.jpg "Mere observation that Payments Cannot be Verified cannot be a grounds to deny a Claim of Customs Duty Refund: CESTAT [Read Order]")
![Claim of Compensation for Termination of Development Agreement Allowed as Deduction to One Co-Owner Cannot be Denied to Other Co-owner: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Claim-of-Compensation-for-Termination-of-Development-Agreement-Allowed-as-Deduction-to-One-Co-Owner-Denied-Co-owner-ITAT-TAXSCAN.jpg "Claim of Compensation for Termination of Development Agreement Allowed as Deduction to One Co-Owner Cannot be Denied to Other Co-owner: ITAT [Read Order]")
Debts Claim Allowable Only if Nexus with Carrying on of Business or Trade is Established: ITAT Directs CIT(A) Re-adjudication [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has directed Commissioner of Income Tax Appeals (CIT(A)) re-adjudication holding that the debts claimed would be allowable only if nexus with...
![Debts Claim Allowable Only if Nexus with Carrying on of Business or Trade is Established: ITAT Directs CIT(A) Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Debts-Claim-Allowable-Debts-Claim-Claim-Debts-Nexus-Carrying-on-of-Business-or-Trade-is-Established-Business-Trade-ITAT-Directs-CITA-Re-adjudication-ITAT-CITA-Re-adjudication-Taxscan.jpg "Debts Claim Allowable Only if Nexus with Carrying on of Business or Trade is Established: ITAT Directs CIT(A) Re-adjudication [Read Order]")
Partnership Firm Can Claim Depreciation on Motor Vehicle Even if Registered in Partner's Name: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the name of the partner in which a motor vehicle is registered is not relevant for the purpose of claiming depreciation...
![Partnership Firm Can Claim Depreciation on Motor Vehicle Even if Registered in Partners Name: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Partnership-Partnership-Firm-Partnership-Firm-Can-Claim-Depreciation-on-Motor-Vehicle-ITAT-taxscan.jpg "Partnership Firm Can Claim Depreciation on Motor Vehicle Even if Registered in Partners Name: ITAT [Read Order]")
Service Received Outside SEZ for Business Activities are Eligible to Claim Refund of Service Tax under Notification: CESTAT [Read Order]
The Ahmedabad bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that the service received outside Special Economic Zone (SEZ) for business activities is eligible to claim...
![Service Received Outside SEZ for Business Activities are Eligible to Claim Refund of Service Tax under Notification: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Service-SEZ-Service-Received-Outside-SEZ-Service-Received-Outside-SEZ-for-Business-Activities-Business-Activities-Claim-CESTAT-taxscan.jpg "Service Received Outside SEZ for Business Activities are Eligible to Claim Refund of Service Tax under Notification: CESTAT [Read Order]")
CBIC notifies certain Class of Person/ class of Goods or Services allowed to Claim Refund on exports with payment of integrated tax w.e.f. 1st October 2023 [Read Order]
The Central Board of Indirect Taxes and Customs (CBIC) vide notification number 27/2023 issued on 1st July 2023 has notified the implementation of Section 123 of the Finance Act 2021 which amended...
![CBIC notifies certain Class of Person/ class of Goods or Services allowed to Claim Refund on exports with payment of integrated tax w.e.f. 1st October 2023 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/CBIC-CBIC-notifies-certain-Class-of-Person-CBIC-notifies-certain-Class-of-Person-class-of-Goods-Goods-Person-class-of-Goods-or-Services-taxscan.jpg "CBIC notifies certain Class of Person/ class of Goods or Services allowed to Claim Refund on exports with payment of integrated tax w.e.f. 1st October 2023 [Read Order]")
DGGI busts Fake Billing Racket worth 485 cr involving least 25 Bogus Companies and Fake ITC Claim of Rs. 76cr: Arrests 2
The Ahmedabad unit of Directorate General of GST Intelligence (DGGI) has busted into the fake billing racket worth 485 crores involving at least 25 bogus companies. The officials also unearthed a...
Claim of Expense Towards Petrol and Maintenance of Car Substantiated with Corroborative Documentary Evidence: ITAT deletes Disallowance [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has partly upheld the appeal of Kartakeya Enterprises, a partnership firm, for the assessment year 2015-16. The ITAT found that the...
![Claim of Expense Towards Petrol and Maintenance of Car Substantiated with Corroborative Documentary Evidence: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Claim-Claim-of-Expense-Claim-of-Expense-Towards-Petrol-Claim-of-Expense-Towards-Petrol-and-Maintenance-of-Car-taxscan.jpg "Claim of Expense Towards Petrol and Maintenance of Car Substantiated with Corroborative Documentary Evidence: ITAT deletes Disallowance [Read Order]")
‘Natural Rock Phosphate’ Imported Goods are Not considered as ‘Fertilizers’ under FCO and Ineligible to Claim Exemption of SAD under Exemption Notification : CESTAT [Read Order]
The Chennai bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that the natural rock phosphate of imported goods is not considered fertilizers under Food Control Order...
![‘Natural Rock Phosphate’ Imported Goods are Not considered as ‘Fertilizers’ under FCO and Ineligible to Claim Exemption of SAD under Exemption Notification : CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Natural-Rock-Phosphate-Imported-Goods-are-Not-considered-Fertilizers-FCO-and-Ineligible-to-Claim-Exemption-of-SAD-under-Exemption-Notification-CESTAT-TAXSCAN.jpg "‘Natural Rock Phosphate’ Imported Goods are Not considered as ‘Fertilizers’ under FCO and Ineligible to Claim Exemption of SAD under Exemption Notification : CESTAT [Read Order]")