![Principal Component of Lease Rental can be treated as Revenue Expenditure u/s 37: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Principal-component-lease-rental-revenue-expenditure-ITAT-taxscan-1.jpg "Principal Component of Lease Rental can be treated as Revenue Expenditure u/s 37: ITAT [Read Order]")
Principal Component of Lease Rental can be treated as Revenue Expenditure u/s 37: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the principal component can be treated as revenue expenditure u/s 37 of...
![30% Depreciation allowable to Motor Lorries used in Business of Transportation of Goods on Hire: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Depreciation-Motor-Lorries-Business-Transportation-of-Goods-Hire-ITAT-Taxscan.jpeg "30% Depreciation allowable to Motor Lorries used in Business of Transportation of Goods on Hire: ITAT [Read Order]")
![Disallowance of Excess Remuneration to Directors: ITAT holds Section 40 A(2)(b) can’t be invoked without Corroborative Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Disallowance-Excess-Remuneration-ITAT-corroborative-evidence-Taxscan.jpeg "Disallowance of Excess Remuneration to Directors: ITAT holds Section 40 A(2)(b) can’t be invoked without Corroborative Evidence [Read Order]")
![No Priority for Payment of Tax Dues of State over other Secured Creditors u/s 529 of Companies Act: Rajasthan HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Priority-Payment-of-Tax-State-Secured-Creditors-Companies-Act-Rajasthan-HC-Taxscan.jpeg "No Priority for Payment of Tax Dues of State over other Secured Creditors u/s 529 of Companies Act: Rajasthan HC [Read Order]")
![MCA extends Time Gap between Two Board Meetings u/s 173 of Companies Act due to Resurgence of Covid-19 [Read Circular]](https://www.taxscan.in/wp-content/uploads/2022/05/MCA-Board-Meetings-Companies-Act-Covid-19-Taxscan.jpg "MCA extends Time Gap between Two Board Meetings u/s 173 of Companies Act due to Resurgence of Covid-19 [Read Circular]")
Artificial intelligence to be Used for Compliance under Companies Act: MCA introduces Chatbox to assist with Statutory Filings
In a move to incorporate technology and artificial intelligence into the compliances under the Companies Act, the Ministry of Corporate Affairs (MCA) building a new version of its compliance platform...
More than 3.82 lakh Companies Struck Off till FY 2020-21 in Special Drives taken by Registrar of Companies, says MoS Rao Inderjit Singh
Under the Special Drives taken by Registrar of Companies, 3,82,875 number of companies ware struck off u/s 248 (1) of the Companies Act till the financial year 2020-21. This was stated by Union...
Non-Profit Company imparting Education eligible for Income Tax Exemption for Charitable Activities: Calcutta High Court [Read Judgment]
The Calcutta High Court has held that a non-profit organization under section 25 of the Companies Act imparting education is eligible for income tax exemption as the same would be treated as...
![Non-Profit Company imparting Education eligible for Income Tax Exemption for Charitable Activities: Calcutta High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2022/03/Non-Profit-Company-Education-Income-Tax-Exemption-income-tax-Charitable-Activities-Calcutta-High-Court-Taxscan.jpeg "Non-Profit Company imparting Education eligible for Income Tax Exemption for Charitable Activities: Calcutta High Court [Read Judgment]")
Madras HC Directs Dept to determine If IL&FS is a Public Institution under the Companies Act: Quashes ITAT Order [Read Order]
While quashing an order passed by the Income Tax Appellate Tribunal (ITAT), the Madras High Court has remanded the matter to the Assessing Officer (AO) for determination to determine whether M/s....
![Madras HC Directs Dept to determine If IL&FS is a Public Institution under the Companies Act: Quashes ITAT Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Madras-High-Court-Madras-HC-ILFS-Public-Institution-Companies-Act-Quashes-ITAT-TAXSCAN.jpeg "Madras HC Directs Dept to determine If IL&FS is a Public Institution under the Companies Act: Quashes ITAT Order [Read Order]")
Gujarat HC remands matter back to Assistant Commissioner for determination of Excise Duty Refund claim with formula of Input / Output ratio of raw materials used in Exported Goods manufacturing [Read Order]
The Gujarat High Court has remanded the matter back to Assistant Commissioner for determination of Excise duty refund claim with formula of input / output ratio of raw materials used in exported...
![Gujarat HC remands matter back to Assistant Commissioner for determination of Excise Duty Refund claim with formula of Input / Output ratio of raw materials used in Exported Goods manufacturing [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Gujarat-High-Court-Assistant-Commissioner-determination-Excise-duty-refund-claim-input-output-ratio-raw-materials-exported-goods-goods-manufacturing-goods-refund-Taxscan.jpg "Gujarat HC remands matter back to Assistant Commissioner for determination of Excise Duty Refund claim with formula of Input / Output ratio of raw materials used in Exported Goods manufacturing [Read Order]")
![Court of Additional Sessions Judge can’t Try Offences under IBC: Bombay High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Court-of-Additional-Sessions-Judge-Bombay-High-Court-IBC-Taxscan.jpg "Court of Additional Sessions Judge can’t Try Offences under IBC: Bombay High Court [Read Order]")
No Liability arises for Payment of Income Tax by the Non-Resident receiving payment for Time Charter: ITAT [Read Order]
The Rajkot Bench of Income Tax Appellate Tribunal (ITAT) has ruled that no liability arises for payment of Income Tax by the non- resident receiving payment for time charter. The assessee,...
![No Liability arises for Payment of Income Tax by the Non-Resident receiving payment for Time Charter: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/NRI-Liability-Payment-of-Income-Tax-Non-Resident-receiving-payment-Time-Charter-ITAT-Taxscan.jpg "No Liability arises for Payment of Income Tax by the Non-Resident receiving payment for Time Charter: ITAT [Read Order]")