![ESOP Expenses can be Claimed in the Year of Vesting: ITAT Allows Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ESOP-expense-vesting-ITAT-Deduction-claim-taxscan.jpg "ESOP Expenses can be Claimed in the Year of Vesting: ITAT Allows Deduction [Read Order]")
ESOP Expenses can be Claimed in the Year of Vesting: ITAT Allows Deduction [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has allowed the deduction holding that the Employees Stock Award Plan (ESOP) expenses could...
![Deduction shall not be Disallowed u/s 40(a)(ia) of Income Tax Act on ground of TDS not Deducted, if Recipient includes Income from Receipts of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Income-Tax-Act-Tax-Deduction-at-Source-Income-from-receipts-Commissioner-of-Income-Tax-Assessment-Years-ITAT-TAXSCAN.jpg "Deduction shall not be Disallowed u/s 40(a)(ia) of Income Tax Act on ground of TDS not Deducted, if Recipient includes Income from Receipts of Assessee: ITAT [Read Order]")
![Interest Income by Cooperative Society on Deposits of Surplus Funds Eligible for Deduction u/ss 80P(2)(a)i) and 80P(2)(d) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Interest-Income-Interest-Income-by-Cooperative-Society-Cooperative-Society-Cooperative-Society-on-Deposits-Deposits-Surplus-Funds-Funds-Deduction-Income-Tax-Act-ITAT-Income-Tax-taxscan.jpg "Interest Income by Cooperative Society on Deposits of Surplus Funds Eligible for Deduction u/ss 80P(2)(a)i) and 80P(2)(d) of Income Tax Act: ITAT [Read Order]")
![Deduction u/s 54B of IT Act shall not be disallowed, if Agriculture Land convert to Non-Agriculture just before Transfer of Land to Seller: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Deduction-IT-Act-Income-Tax-Agriculture-Land-convert-to-Non-Agriculture-Transfer-of-Land-to-Seller-ITAT-taxscan.jpg "Deduction u/s 54B of IT Act shall not be disallowed, if Agriculture Land convert to Non-Agriculture just before Transfer of Land to Seller: ITAT [Read Order]")
![Deduction u/s 80IB of IT Act shall not be Allowable in Respect of Increase in Business Income due to Addition on Account of Concealed Production: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/IT-Act-shall-not-be-allowable-in-respect-of-increase-Business-Income-addition-on-account-of-Concealed-Production-ITAT-TAXSCAN.jpg "Deduction u/s 80IB of IT Act shall not be Allowable in Respect of Increase in Business Income due to Addition on Account of Concealed Production: ITAT [Read Order]")
Co-operative Society involved in Banking Business Not eligible for deduction u/s 80P(2)(a)(i): ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench has held that the Cooperative society involved in Banking Business is not eligible for deduction under Section 80P(2)(a)(i) of the Income Tax...
![Co-operative Society involved in Banking Business Not eligible for deduction u/s 80P(2)(a)(i): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Co-operative-Society-Co-operative-Society-involved-in-Banking-Business-Banking-Business-deduction-ITAT-Taxscan.jpg "Co-operative Society involved in Banking Business Not eligible for deduction u/s 80P(2)(a)(i): ITAT [Read Order]")
Bonafide Belief of Interest Income on Bank Deposits Eligible for Deduction u/s 80P : ITAT Deletes Penalty u/s 271(1)(c) [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has deleted the penalty under Section 271(1)(c) of the Income Tax Act 1961, as the assessee had the bonafide belief of interest income on...
![Bonafide Belief of Interest Income on Bank Deposits Eligible for Deduction u/s 80P : ITAT Deletes Penalty u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Interest-Income-on-Bank-Deposits-Interest-Income-Bank-Deposits-Deduction-ITAT-ITAT-Deletes-Penalty-Penalty-taxscan.jpg "Bonafide Belief of Interest Income on Bank Deposits Eligible for Deduction u/s 80P : ITAT Deletes Penalty u/s 271(1)(c) [Read Order]")
ITAT quashes Disallowance of Car Expenses Incurred for Personal Use of Directors of Private Company [Read Order]
The Pune bench of Income Tax Appellate Tribunal (ITAT) has recently quashed disallowance of car expenses incurred for personal use of directors of private company. The Assessee Pushpak Steel...
![ITAT quashes Disallowance of Car Expenses Incurred for Personal Use of Directors of Private Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-quashes-Disallowance-of-Car-Expenses-ITAT-quashes-Disallowance-Car-Expenses-ITAT-Disallowance-Car-Expenses-Incurred-for-Personal-Use-Personal-Use-Private-Company-Taxscan.jpg "ITAT quashes Disallowance of Car Expenses Incurred for Personal Use of Directors of Private Company [Read Order]")
Departmental Authorities cannot Disallow Deduction u/s 35(2AB) of IT Act by ignoring Form 3CL issued by Competent Authority: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) ruled that the departmental authorities cannot disallow deduction under section 35(2AB) of the Income Tax Act, 1961 by ignoring Form...
![Departmental Authorities cannot Disallow Deduction u/s 35(2AB) of IT Act by ignoring Form 3CL issued by Competent Authority: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Departmental-Authorities-Deduction-IT-act-Form-3CL-issued-by-Competent-Authority-ITAT-taxscan.jpg "Departmental Authorities cannot Disallow Deduction u/s 35(2AB) of IT Act by ignoring Form 3CL issued by Competent Authority: ITAT [Read Order]")
Deduction u/s 36(1) (va) Allowable Only if Employees’ Share in Relevant Funds Are Deposited before due Date Stipulated in Respective Acts: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that deduction under Section 36(1) (va) is allowable only if employees’ share in relevant funds...
![Deduction u/s 36(1) (va) Allowable Only if Employees’ Share in Relevant Funds Are Deposited before due Date Stipulated in Respective Acts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Deduction-Employees-Share-in-Relevant-Funds-ITAT-Employees-Share-Relevant-Funds-taxscan.jpg "Deduction u/s 36(1) (va) Allowable Only if Employees’ Share in Relevant Funds Are Deposited before due Date Stipulated in Respective Acts: ITAT [Read Order]")
![Interest Income from Fixed Deposit is eligible for Deduction u/s 80IA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Interest-Income-from-Fixed-Deposit-Interest-Income-Income-from-Fixed-Deposit-Fixed-Deposit-Deduction-ITAT-Fixed-Deposit-is-eligible-for-Deduction-taxscan.jpg "Interest Income from Fixed Deposit is eligible for Deduction u/s 80IA: ITAT [Read Order]")
