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No Examination of Weighted Deduction claim u/s 35(2AB): ITAT confirms Revision Order [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ), confirmed the Revision Order as there was no examination of weighted deduction claim...

Krea University Eligible for Income Tax Deduction u/s 35(1): CBDT [Read Notification]

Year of substantial expansion is initial Assessment Year within 10 years for claiming Deduction u/s...

Relief to Serum Institute of India, Benefit of deduction u/s 10AA cannot be denied merely on ground...

Relief to Facebook: ITAT directs to conduct enquiry on deduction of TDS [Read Order]

GTD Expenses are allowable as Income Tax Deduction: ITAT upholds deletion of Disallowance [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that GTD expenses are allowable as Income Tax deduction and upheld the deletion of disallowance BY Commissioner of Income Tax (A)....

Claim for Deduction of Educational Cess not Allowable: ITAT [Read Order]

The Income Tax Appellate Tribunal “B” Bench, Mumbai, has, recently, in an appeal filed before it by the assessee, held that claim for deduction of educational cess is not allowable in view of the...

Interest Paid on Delayed TDS Payment is allowable as Deduction: ITAT [Read Order]

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) held that the interest paid on delayed TDS payment is allowable as a deduction. ShriRamaKantaPanda, accountant member &Shri K...

Assessee entitled to 80G Deduction on Donations made towards Chief Minister KanyaKelvaniNidhi : ITAT [Read Order]

The Income Tax Appellate Tribunal “A” Bench, Ahmedabad, has recently, in an appeal filed before it, held that the assessee is entitled to 80G deduction with regard to the contributions or donations...

Relief to ICICI Bank: ITAT confirms Interest Expenses on Perpetual Bonds, allowable as Deduction u/s 36(1)(iii) [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench ruled that Interest expenses on perpetual bonds, allowable as deduction under Section 36(1)(iii) of the Income Tax Act, 1961 thereby granting...

Failure in Submission of Form-10CCB: ITAT confirms Income Tax Deduction u/s 80IB [Read Order]

The Visakhapatnam bench of Income Tax Appellate Tribunal (ITAT), confirms the deduction u/s 80IB of the Act,1961 when the assessee failed in the submission of Form-10CCB. The respondent-assessee,...

Interest on Income Tax not allowable as Deduction u/s 40(a)(ii): ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the interest on income tax cannot be allowable as deduction under section 40(a)(ii) of the Income Tax Act, 1961. The...

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