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Company Eligible for Deduction of Foreign Travel Expenses of Employee and Relative of Director: ITAT [Read Order]

Taxscan Team

The Income Tax Appellate Tribunal (ITAT), Kolkata bench has allowed the assessee-Company deduction under section 37 of the Income Tax Act, 1961 in...

Co-Operative Bank Eligible for 80P Deduction in respect of Income from Interest on Staff Welfare...

Deduction on Sale Commission not Allowable if Genuineness of Expenditure cannot be Ascertained:...

No Deduction u/s 80IB on Profit from DEPB /Duty Drawback Schemes: SC [Read Judgement]

Section 54F Deduction can be Allowed even if Amount not Deposited in Capital Gains Account Scheme:...

Service Charges part of Rental Income, Includable while Allowing Standard Deduction: ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the service charges are part of rental income and are includable while allowing standard deduction. The assessee, Saurashtra...

Landlord Not Liable for Deduction of TDS under Wrong Provision by Tenant: ITAT [Read Order]

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that the landlord was not liable for deduction of Tax Deduction at Source (TDS) under wrong provision by the tenant. ...

Benefit of S. 10AA Allowable If Consideration in respect of Exports was Received in India or brought into India: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, in an appeal filed before it, held that benefit of s. 10AA is allowable, if the consideration in respect of exports was received...

Entire Expenses connected with Setting Up of Business are “Capital” in Nature, Not Allowable as Deduction: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently in an appeal filed before it, held that the entire expenses connected with setting up of business are “capital” in nature, and...

Order cannot be treated as “Erroneous” If PCIT thinks that “the Order should have been Written More Elaborately”: ITAT Quashes Revision [Read Order]

The Surat Bench of Income Tax Appellate Tribunal (ITAT) has quashed the revision order holding that the order could not be treated as erroneous if the Principal Commissioner of Income Tax (PCIT) had...

Expenditure incurred by Flipkart towards ESOP eligible for Deduction u/s 37 of Income Tax Act: ITAT [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) observed that the Expenditure incurred by Flipkart towards Employee Stock Ownership Plan ( ESOP ) eligible for deduction under...

Deduction u/s 80P can be finalised only after analysing form of Society: Kerala HC sets aside Assessment Order [Read Order]

In a recent judgement, the Kerala High Court (HC) sets aside an assessment order and held that deduction under section 80P of the Income Tax Act, 1961 can be finalised only after analysing the form...

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