![CPC not Authorized to Carry Out Adjustment for Disallowance of Deduction u/s 80P Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/CPC-Disallowance-of-Deduction-Deduction-Income-Tax-Act-ITAT-Income-Tax-taxscan.jpg "CPC not Authorized to Carry Out Adjustment for Disallowance of Deduction u/s 80P Income Tax Act: ITAT [Read Order]")
CPC not Authorized to Carry Out Adjustment for Disallowance of Deduction u/s 80P Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that Centralized Processing Centre (CPC) not authorized to carry out adjustment for...
![Deduction of Discount on ESOP over vesting period must be accordance with Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Deduction-Discount-Deduction-of-Discount-ESOP-Books-of-Account-ITAT-Income-Tax-Taxscan.jpg "Deduction of Discount on ESOP over vesting period must be accordance with Books of Account: ITAT [Read Order]")
![Lease Rent paid for Acquiring Mining Rights is “Capital” in Nature, Not Allowable as Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/lease-rent-2-4.jpg "Lease Rent paid for Acquiring Mining Rights is “Capital” in Nature, Not Allowable as Deduction: ITAT [Read Order]")
![Deduction Allowable towards Allocation of R&D Expenses for Eligible Units u/s 80IB and 80IC of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Deduction-Research-and-Development-expenses-Research-Development-Income-Tax-Act-Income-Tax-Tax-Taxscan.jpg "Deduction Allowable towards Allocation of R&D Expenses for Eligible Units u/s 80IB and 80IC of Income Tax Act: ITAT [Read Order]")
![Capital Gain Deduction u/s 54F cannot be Denied If Assessee Entered into Agreement to Sale within One Year of Sale of Original Asset: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Capital-Gain-Deduction-Capital-Gain-Agreement-Sale-Original-Asset-ITAT-Income-Tax-Taxscan.jpg "Capital Gain Deduction u/s 54F cannot be Denied If Assessee Entered into Agreement to Sale within One Year of Sale of Original Asset: ITAT [Read Order]")
Provision for Capital Gain Exemption u/s 54F are Beneficial Provision, Substantial Compliance would Entitle Assessee to Claim Full Deduction: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that the provision for capital gain exemption u/s 54F is the beneficial provision, and hence...
![Provision for Capital Gain Exemption u/s 54F are Beneficial Provision, Substantial Compliance would Entitle Assessee to Claim Full Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Capital-Gain-Exemption-Beneficial-Provision-Substantial-Compliance-Assessee-Full-Deduction-Deduction-ITAT-Taxscan.jpg "Provision for Capital Gain Exemption u/s 54F are Beneficial Provision, Substantial Compliance would Entitle Assessee to Claim Full Deduction: ITAT [Read Order]")
![Assesee not eligible for Deduction u/s 80IC,If Plant not situate notified area: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Deduction-notified-area-Plant-ITAT-Income-Tax-Tax-Taxscan.jpg "Assesee not eligible for Deduction u/s 80IC,If Plant not situate notified area: ITAT [Read Order]")
Interest paid to Legal Heirs of Deceased Partners cannot be Disallowed If TDS already Deducted: ITAT [Read Order]
The Allahabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the interest paid to legal heirs of deceased partners could not be disallowed if the TDS had already been deducted. The...
![Interest paid to Legal Heirs of Deceased Partners cannot be Disallowed If TDS already Deducted: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Interest-Interest-paid-Legal-Heirs-Deceased-Partners-TDS-ITAT-Taxscan.jpg "Interest paid to Legal Heirs of Deceased Partners cannot be Disallowed If TDS already Deducted: ITAT [Read Order]")
![No Income Tax on Amount received under Agnipath Scheme, 2022: Union Budget 2023 [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2023/02/Income-Tax-Amount-received-Agnipath-Scheme-2022-Union-Budget-2023-taxscan-budget-2023-budget-2023-live-union-budget-2023-nirmala-sitharaman-budget-taxscan.jpg "No Income Tax on Amount received under Agnipath Scheme, 2022: Union Budget 2023 [Read Finance Bill]")
Deduction for Expenditure on Payment only when Payment is actually made; Union Budget 2023 [Read Finance Bill]
Under the newly proposed union Budget 2023 the Union Ministry has proposed an amendment which allow the claim of deduction for expenditure on payment only after the actual payment is made. This...
Expenses Incurred as Payment to Parent Company that Issued Shares to Employees of Assessee Allowable as Deduction: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that the expenses incurred as payment to parent company that issued shares to employees of assessee shall be allowed as deduction. ...
![Expenses Incurred as Payment to Parent Company that Issued Shares to Employees of Assessee Allowable as Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Expenses-Payment-Parent-Company-Shares-Shares-to-Employees-Assessee-Deduction-ITAT-Income-Tax-taxscan-.jpg "Expenses Incurred as Payment to Parent Company that Issued Shares to Employees of Assessee Allowable as Deduction: ITAT [Read Order]")
![Factoring Charges Allowable as Deduction under Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Factoring-Charges-Deduction-Income-Tax-Act-ITAT-Inome-Tax-Taxscan.jpg "Factoring Charges Allowable as Deduction under Income Tax Act: ITAT [Read Order]")