![Co-Operative Society Eligible to Claim Deduction of Interest from Deposits in Co-Operative Banks: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Co-Operative-Society-Claim-Deduction-of-Interest-Deduction-Deduction-of-Interest-Deposits-Co-Operative-Banks-ITAT-Income-Tax-Taxscan.jpg "Co-Operative Society Eligible to Claim Deduction of Interest from Deposits in Co-Operative Banks: ITAT [Read Order]")
Co-Operative Society Eligible to Claim Deduction of Interest from Deposits in Co-Operative Banks: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), presided over by Judicial Member Vikas Awasthy, decided that the cooperative society is...
![GST Applicable on Deduction made on Employees’ Salary for Canteen Facility: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Deduction-GST-Employees-Salary-Employees-Salary-Canteen-Facility-Salary-for-Canteen-Facility-AAR-Authority-for-Advance-Ruling-taxscan.jpg "GST Applicable on Deduction made on Employees’ Salary for Canteen Facility: AAR [Read Order]")
![Cut of date in Certificate issued by DSIR has no relevance: ITAT confirms Deduction u/s 35(2AB) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/DSIR-ITAT-Deduction-Income-Tax-taxscan.jpg "Cut of date in Certificate issued by DSIR has no relevance: ITAT confirms Deduction u/s 35(2AB) [Read Order]")
![Making Incorrect Deduction not amount to Furnishing Inaccurate Particulars u/s 271 (1)(c): ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/ITAT-deletes-Penalty-ITAT-Penalty-Deduction-Taxscan.jpg "Making Incorrect Deduction not amount to Furnishing Inaccurate Particulars u/s 271 (1)(c): ITAT deletes Penalty [Read Order]")
![Expenses towards Development of Abandoned Software Eligible for Income Tax Deduction: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Software-Development-of-Software-Income-Tax-Deduction-Deduction-Income-Tax-Tax-Bombay-High-Court-taxscan.jpg "Expenses towards Development of Abandoned Software Eligible for Income Tax Deduction: Bombay HC [Read Order]")
![Subsidy received under TUF Scheme is Capital Receipt, allowable as Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Subsidy-TUF-Scheme-Capital-Receipt-Deduction-Subsidy-received-ITAT-taxscan.jpg "Subsidy received under TUF Scheme is Capital Receipt, allowable as Deduction: ITAT [Read Order]")
Relief to Vi, Deduction of discount on ESOP over the vesting period by SEBI Guidelines is allowable: ITAT [Read Order]
As a relief to Vodafone Idea ltd, the Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the deduction of discount on the Employee Stock Option Scheme ( ESOP ) over the vesting...
![Relief to Vi, Deduction of discount on ESOP over the vesting period by SEBI Guidelines is allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Deduction-Vi-Deduction-of-discount-Deduction-of-discount-on-ESOP-ESOP-SEBI-Guidelines-SEBI-taxscan-1.jpg "Relief to Vi, Deduction of discount on ESOP over the vesting period by SEBI Guidelines is allowable: ITAT [Read Order]")
Revenue Sharing License Fee paid fixedly for Telecommunication is allowable as Deduction: ITAT restores issue of Vi to AO for Verification [Read Order]
In a significant ruling in the case of Vodafone Idea ltd, the Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the Revenue sharing license fee paid fixedly to the department...
![Revenue Sharing License Fee paid fixedly for Telecommunication is allowable as Deduction: ITAT restores issue of Vi to AO for Verification [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Revenue-License-Fee-Telecommunication-Deduction-ITAT-Vi-Income-Tax-taxscan.jpg "Revenue Sharing License Fee paid fixedly for Telecommunication is allowable as Deduction: ITAT restores issue of Vi to AO for Verification [Read Order]")
Utilization of Capital Gain within one year from taking possession of New Flat: ITAT allows Deduction u/s 54 and 54F [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT), allowed deduction under Section 54 and 54F of the Income Tax Act, 1961 on the ground that Utilization of capital gain within one year...
![Utilization of Capital Gain within one year from taking possession of New Flat: ITAT allows Deduction u/s 54 and 54F [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Utilization-of-Capital-Gain-capital-gain-Flat-ITAT-Deduction-income-tax-taxscan.jpg "Utilization of Capital Gain within one year from taking possession of New Flat: ITAT allows Deduction u/s 54 and 54F [Read Order]")
Relief to MUFG Bank: ITAT holds Salary paid by Head Office to expatriate Employees working in Indian branches, allowable as Deduction [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), New Delhi Bench held that salary paid by head office to expatriate employees working in Indian branches, allowable as deduction, thereby granting relief to...
![Relief to MUFG Bank: ITAT holds Salary paid by Head Office to expatriate Employees working in Indian branches, allowable as Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/MUFG-Bank-ITAT-Salary-paid-expatriate-Employees-Indian-branches-Deduction-taxscan.jpg "Relief to MUFG Bank: ITAT holds Salary paid by Head Office to expatriate Employees working in Indian branches, allowable as Deduction [Read Order]")
Deduction of Expenditure u/s 57(iii) can be for Negative or Positive Income: ITAT quashes Order of CIT(A) [Read Order]
The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has held that the deduction of expenditure u/s 57(iii) of the Income Tax Act,1961 can be for negative or positive income. Sh....
![Deduction of Expenditure u/s 57(iii) can be for Negative or Positive Income: ITAT quashes Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Deduction-Expenditure-Income-ITAT-taxscan.jpg "Deduction of Expenditure u/s 57(iii) can be for Negative or Positive Income: ITAT quashes Order of CIT(A) [Read Order]")
Disallowance u/s 143(1) cannot be in mechanical manner: ITAT directs to verify on deduction of TDS [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT), held that disallowance under Section 143(1) of the Income Tax Act, 1961 cannot be in mechanical manner and directed to verify whether...
![Disallowance u/s 143(1) cannot be in mechanical manner: ITAT directs to verify on deduction of TDS [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Disallowance-ITAT-deduction-TDS-taxscan.jpg "Disallowance u/s 143(1) cannot be in mechanical manner: ITAT directs to verify on deduction of TDS [Read Order]")