![Debatable issues cannot be Adjusted on mere Intimation u/s 143: ITAT allows Deduction u/s 80JJAA [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Debatable-issues-ITAT-Deduction-taxscan.jpg "Debatable issues cannot be Adjusted on mere Intimation u/s 143: ITAT allows Deduction u/s 80JJAA [Read Order]")
Debatable issues cannot be Adjusted on mere Intimation u/s 143: ITAT allows Deduction u/s 80JJAA [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT), has held that debatable issues cannot be adjusted on mere intimation u/s 143 and...
![Bombay HC upholds ITAT Order to Allow Pro-Rata Deduction to Eligible Undertaking Developing and Building Approved Housing Projects u/S 80IB(10) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Bombay-HC-Pro-Rata-Deduction-Housing-Projects-taxscan.jpeg "Bombay HC upholds ITAT Order to Allow Pro-Rata Deduction to Eligible Undertaking Developing and Building Approved Housing Projects u/S 80IB(10) [Read Order]")
![Business of Infrastructure Development comes under the definition of Developer, Deduction u/s 80IA (4) is claimable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Business-infrastructure-development-developer-deduction-ITAT-taxscan.jpg "Business of Infrastructure Development comes under the definition of Developer, Deduction u/s 80IA (4) is claimable: ITAT [Read Order]")
![Examination of Nature of Work and Income necessary for granting Deduction for Housing projects u/s801B (10): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/income-deduction-housing-projects-ITAT-taxscan.jpeg "Examination of Nature of Work and Income necessary for granting Deduction for Housing projects u/s801B (10): ITAT [Read Order]")
![Deduction u/s 80IB (10) should not be denied merely because of non-acceptance of Occupancy Certificate: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Deduction-occupancy-certificate-ITAT-taxscan.jpg "Deduction u/s 80IB (10) should not be denied merely because of non-acceptance of Occupancy Certificate: ITAT [Read Order]")
Interest from Fixed Deposit is an Unearned Passive Income derived out of Non-Manufacturing Activity and not Eligible for Deduction U/S 80IC: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench presided by Mr. Aakash Deep Jain, Vice President, and Dr. B. R. R. Kumar, Accountant Member has held that interest from the fixed deposit is an...
![Interest from Fixed Deposit is an Unearned Passive Income derived out of Non-Manufacturing Activity and not Eligible for Deduction U/S 80IC: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Interest-Fixed-Deposit-Passive-Income-Non-Manufacturing-Activity-Deduction-ITAT-taxscan.jpg "Interest from Fixed Deposit is an Unearned Passive Income derived out of Non-Manufacturing Activity and not Eligible for Deduction U/S 80IC: ITAT [Read Order]")
Income Received under FPS introduced under Foreign Trade Policy 2004 are Capital Receipts, attracts Deduction u/s 80IC: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that income received under Focus Products Scheme (FPS) introduced under Foreign Trade Policy 2004 are capital receipts and attracts...
![Income Received under FPS introduced under Foreign Trade Policy 2004 are Capital Receipts, attracts Deduction u/s 80IC: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Income-FPS-Foreign-Trade-Policy-Capital-Receipts-Deduction-ITAT-taxscan.jpg "Income Received under FPS introduced under Foreign Trade Policy 2004 are Capital Receipts, attracts Deduction u/s 80IC: ITAT [Read Order]")
Deduction of Compensation paid for Breach of Contract cannot be allowed based on Bank Statement alone: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench has held that deduction of compensation paid for breach of contract cannot be allowed based on bank statement alone. The assessee, M/s.Home...
![Deduction of Compensation paid for Breach of Contract cannot be allowed based on Bank Statement alone: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Deduction-Compensation-Bank-Statement-ITAT-taxscan.jpeg "Deduction of Compensation paid for Breach of Contract cannot be allowed based on Bank Statement alone: ITAT [Read Order]")
Setback to Wipro: Deduction to EOU u/s 10B can be denied on for Delay in filing Declaration, rules Supreme Court [Read Order]
A two-judge bench of the Supreme Court, while considering an appeal by Wipro Ltd., has held that the deduction to Export-oriented Units (EOU) under section 10(8) of the Income Tax Act, 1961 can be...
![Setback to Wipro: Deduction to EOU u/s 10B can be denied on for Delay in filing Declaration, rules Supreme Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Wipro-Deduction-EOU-sole-ground-Declaration-Supreme-Court-taxscan.jpg "Setback to Wipro: Deduction to EOU u/s 10B can be denied on for Delay in filing Declaration, rules Supreme Court [Read Order]")
Commercial holding in Housing Project less than 100 sq. m: ITAT allows Income Tax Deduction u/s 801B [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench consisting of Mahavir Singh, Vice President and Manoj Kumar Aggarwal, Accountant Member held that assessee entitled to deduction u/s 801B as...
![Commercial holding in Housing Project less than 100 sq. m: ITAT allows Income Tax Deduction u/s 801B [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/housing-project-ITAT-deduction-taxscan.jpeg "Commercial holding in Housing Project less than 100 sq. m: ITAT allows Income Tax Deduction u/s 801B [Read Order]")
Statute Promoting Growth and Development should be Considered Liberally: Calcutta HC allows Income Tax Deduction to ITC Ltd [Read Order]
The division bench of the Calcutta High Court has held that the statute promoting growth and development should be considered liberally and upholds deduction u/s 80IC. The assessee, M/s. ITC...
![Statute Promoting Growth and Development should be Considered Liberally: Calcutta HC allows Income Tax Deduction to ITC Ltd [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/ITC-Limited-Calcutta-HC-Growth-and-Development-Liberally-Deduction-Taxscan.jpeg "Statute Promoting Growth and Development should be Considered Liberally: Calcutta HC allows Income Tax Deduction to ITC Ltd [Read Order]")
Remuneration and Share Profits received from Partnership Firm are not eligible for Deduction u/s 80IB: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Pune Bench has held that remuneration and share profits received from partnership firms are not eligible for deduction u/s 80IB. The appellant, Jaideep...
![Remuneration and Share Profits received from Partnership Firm are not eligible for Deduction u/s 80IB: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Remuneration-Share-Profits-Partnership-Firm-Deduction-ITAT-Taxscan.jpg "Remuneration and Share Profits received from Partnership Firm are not eligible for Deduction u/s 80IB: ITAT [Read Order]")