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Deduction Claim

Belated ITR Not a Bar: ITAT allows 80P Deduction Claim, Remands Matter to AO for Fresh Adjudication [Read Order]

Sandhra Suresh

The Nagpur bench of Income Tax Appellate Tribunal (ITAT) held that the deduction under Section 80P cannot be denied solely for belated filing and...

Leave Encashment Payment Made After Financial Year not Deductible under Income Tax Act Without...

Disallowance of Deduction Claim u/s 80P(2)(a)(i) of Income Tax Act without Following Precedence:...

ITAT Bangalore Upholds Penalty for Misreporting of Income Due to Double Deduction Claim [Read Order]

AO Conducted Proper Inquiry into S.80P Deduction Claim by Co-Op Society: ITAT quashes Revision Order...

Second Chance to Shilp Gravures Ltd: ITAT Remands Matter Back to CIT(A) for Non-Examination of Facts of Deduction Claim u/s 80IA [Read Order]

In a recent order, the Income Tax Appellate Tribunal (ITAT) Ahmedabad, has remanded the case of Shilp Gravures Ltd back to the Commissioner of Income Tax (Appeals) [CIT(A)] for further examination....

ITAT allows Deduction Claim in respect of Interest Earned from Credit Facilities Extended to Members including/ Nominal Associate Members [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) allowed the claim of deduction in respect of interest earned from credit facilities extended to members, including nominal and...

Case digest on Deduction u/s 80 G of Income Tax Act

What is Section 80G? Section 80G of the Income Tax Act is a provision that allows taxpayers to claim deductions on donations made to eligible charitable institutions and funds. The purpose of this...

Deduction claim under Section 80 P of Income Tax Act: Kerala HC disposes Writ Petition as per Assessee's plea to engage with Assessing Authority [Read Order]

Kerala HC Disposes of Writ Petition Assessee Request to Take up the Matter with the Assessing Authority under Section 154 of Income Tax Act. The assessee themself requested that they would proceed...

Receipts from Carbon Credit is not Business Income: ITAT disallows Deduction Claim [Read Order]

The Income Tax Appellate Tribunal (ITAT) held that the receipts from the sale of the carbon credit are liable to be treated as the capital receipts on an appeal filed by M/s. Rajshree Sugars and...

Wife added as Co-Owner of Property due to Vastu Reasons: ITAT asks AO to re-consider Deduction Claim [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore bench has asked the Assessing Officer to re-consider a claim for deduction under Section 54F of the Income Tax Act, 1961 where the anme of the wife...