Liquidated Damage arises on Delayed Supply of Service to BSNL and MTNL adjusted With Purchase Amount: Delhi HC upholds Deduction of Liquidated Damage Based on Evidence [Read Order]
In a recent judgement, the Delhi High Court upheld the deduction of liquidated damage based on evidence. The liquidated damage arises from the...
![Relief to Kalyan Jewellers: Kerala HC Stays Coercive Steps on Apprehension of Income Tax Assessment Order Enforcement during Appeal Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Kalyan-Jewellers-Kerala-high-court-Coercive-Steps-on-Apprehension-Income-Tax-Assessment-Order-taxscan.jpg "Relief to Kalyan Jewellers: Kerala HC Stays Coercive Steps on Apprehension of Income Tax Assessment Order Enforcement during Appeal Proceedings [Read Order]")
![Provisions of Deemed Dividend u/s 2(22)(e) of Income Tax Act can only be invoked against Shareholder: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Deemed-Dividend-Provisions-Income-Tax-Act-Shareholder-ITAT-Income-Tax-TAXSCAN.jpg "Provisions of Deemed Dividend u/s 2(22)(e) of Income Tax Act can only be invoked against Shareholder: ITAT [Read Order]")
![Disallowance u/s 14 A of Income Tax Act Cannot Exceed Exempt Income: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Income-Tax-Act-Disallowance-Exempt-Income-Delhi-High-Court-Income-Tax-TAXSCAN.jpg "Disallowance u/s 14 A of Income Tax Act Cannot Exceed Exempt Income: Delhi HC [Read Order]")
Usage of Document found at business premises of Partnership Firm against Partners: Delhi HC closes appeal without substantial Question of Law
In a recent case, the Delhi High Court, while closing the appeal as no substantial question of law, held that documents found at the business premises of partnership firms could not be used against...
Proceedings u/s 153 C of Income Tax Act is not Valid in Absence of Incriminating material: Delhi HC [Read Order]
The Delhi High Court proceedings under section 153 C of the Income Tax Act, 1961 are not valid in the absence of incriminating material. The appellant/revenue is the order dated 24.03.2017 passed...
![Proceedings u/s 153 C of Income Tax Act is not Valid in Absence of Incriminating material: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Incriminating-material-Income-Tax-Act-Delhi-High-Court-Income-Tax-Incriminating-Tax-News-TAXSCAN.jpg "Proceedings u/s 153 C of Income Tax Act is not Valid in Absence of Incriminating material: Delhi HC [Read Order]")
No Weighted Average Cost of Capital method can be applied for purpose of computing ALP of Royalty income: ITAT Upholds Deletion of Adjustments in favour of Britannia Industries [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) upheld the deletion of adjustments in favor of Britannia Industries and held that the weighted average cost of capital (WACC) method...
![No Weighted Average Cost of Capital method can be applied for purpose of computing ALP of Royalty income: ITAT Upholds Deletion of Adjustments in favour of Britannia Industries [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-Weighted-Average-Cost-Average-Cost-Average-Cost-of-Capital-method-computing-ALP-ALP-Royalty-income-Royalty-ITAT-taxscan.jpg "No Weighted Average Cost of Capital method can be applied for purpose of computing ALP of Royalty income: ITAT Upholds Deletion of Adjustments in favour of Britannia Industries [Read Order]")
Relief to Britannia Industries: ITAT Allows claim of Deduction for Lease Premium on ground of Absence of Capital Expenditure [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) granted relief to Britannia Industries by allowing the claim of deduction for lease premium on the ground of the absence of capital...
![Relief to Britannia Industries: ITAT Allows claim of Deduction for Lease Premium on ground of Absence of Capital Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Relief-Relief-to-Britannia-Industries-Britannia-Industries-ITAT-claim-Deduction-claim-of-Deduction-ITAT-Allows-claim-of-Deduction-Lease-Premium-Capital-Expenditure-taxscan.jpg "Relief to Britannia Industries: ITAT Allows claim of Deduction for Lease Premium on ground of Absence of Capital Expenditure [Read Order]")
Retirement amount received by partner through Arbitration Proceedings from partnership firm is not chargeable to tax: Bombay HC quashes Reassessment Proceedings [Read Order]
In a recent case, the Bombay High Court, while quashing the reassessment proceedings, held that the retirement amount received by the partner through arbitration proceedings from the partnership firm...
Disciplinary Proceedings against Income Tax Commissioner on allowing Unsubstantiated claims of sub-contract expenses by wrong finding: Delhi HC upholds CAT'S Order [Read Order]
The Delhi High Court upheld the order of the Central Administrative Tribunal (CAT) which confirmed the disciplinary proceeding against the Income Tax commissioner for allowing unsubstantiated claims...
![Disciplinary Proceedings against Income Tax Commissioner on allowing Unsubstantiated claims of sub-contract expenses by wrong finding: Delhi HC upholds CATS Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Disciplinary-Proceedings-Income-Tax-Commissioner-Unsubstantiated-Claims-delhi-hc-taxscan.jpg "Disciplinary Proceedings against Income Tax Commissioner on allowing Unsubstantiated claims of sub-contract expenses by wrong finding: Delhi HC upholds CATS Order [Read Order]")
Training Expenses on Skill Development not to be disallowed Treating it as Deferred Expense: Delhi HC upholds ITAT's order
The Delhi High Court upheld the order of the Income Tax Appellate Tribunal (ITAT) wherein it was held that training expenses on skill development were not to be disallowed treating it as a deferred...
