![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]")
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...
![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]](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]")
![Income Tax Deduction u/s 80IB(10) applicable to Commercial Establishments/Shops: ITAT follows SC Ruling [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Income-Tax-Deduction-Commercial-Establishments-ITAT-SC-Ruling-taxscan.jpg "Income Tax Deduction u/s 80IB(10) applicable to Commercial Establishments/Shops: ITAT follows SC Ruling [Read Order]")
![Adjustment made by Chartered Accountant in revised Form No.29B while computing revised Book Profits u/s.115JB is in order: CESTAT direct AO to grant deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Adjustment-Chartered-Accountant-revised-Form-No.29B-Book-Profits-CESTAT-AO-deduction-Taxscan.jpg "Adjustment made by Chartered Accountant in revised Form No.29B while computing revised Book Profits u/s.115JB is in order: CESTAT direct AO to grant deduction [Read Order]")
Consideration paid for Acquisition of Shares does not come under Revenue Deduction: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune has ruled that, Consideration paid for the acquisition of shares does not come under revenue deduction. The appellant, M/s. Adler Mediequip Pvt. Ltd...
![Consideration paid for Acquisition of Shares does not come under Revenue Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/acquisition-of-shares-revenue-deduction-ITAT-taxscan.jpeg "Consideration paid for Acquisition of Shares does not come under Revenue Deduction: ITAT [Read Order]")
100% Deduction u/s 80IC allowable when Industry undergone Substantial Expansion after expiry of 5 years of its Incorporation: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that 100% deduction under section 80IC is allowable when an industry underwent a substantial expansion after the expiry of 5 years of...
![100% Deduction u/s 80IC allowable when Industry undergone Substantial Expansion after expiry of 5 years of its Incorporation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Deduction-Industry-Substantial-Expansion-Incorporation-ITAT-Taxscan.jpeg "100% Deduction u/s 80IC allowable when Industry undergone Substantial Expansion after expiry of 5 years of its Incorporation: ITAT [Read Order]")
Social Welfare Expenses incurred at Workplace and nearby Villages are allowable Deduction u/s 37(1): ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Hyderabad Bench has held that the social welfare expenses incurred at the workplace and nearby villages are allowable deductions u/s 37(1). The appellant,...
![Social Welfare Expenses incurred at Workplace and nearby Villages are allowable Deduction u/s 37(1): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Social-Welfare-Expenses-Workplace-Villages-Deduction-ITAT-Taxscan.jpeg "Social Welfare Expenses incurred at Workplace and nearby Villages are allowable Deduction u/s 37(1): ITAT [Read Order]")
Compensation Received for Relinquishment of Right in a Property is assessable under ‘Income from Capital Gains’ and eligible for Deduction u/s 54F: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) presided by Mr. I G. Manjunatha, Accountant Member, and Mr. Anikesh Banerjee, Judicial Member has held that compensation received for...
![Compensation Received for Relinquishment of Right in a Property is assessable under ‘Income from Capital Gains’ and eligible for Deduction u/s 54F: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Relinquishment-Property-Income-Capital-Gains-Deduction-ITAT-Taxscan.jpg "Compensation Received for Relinquishment of Right in a Property is assessable under ‘Income from Capital Gains’ and eligible for Deduction u/s 54F: ITAT [Read Order]")
Relief to Fenner India: Royalty Income not relatable to Export Business excludable from Business Profit u/s 80HHC, rules Madras HC [Read Order]
The division bench of Madras High Court presided by Mr. Justice R. Mahadevan and Mr. Justice J. Sathya Narayana Prasad has upheld the exclusion of royalty income from business profits for calculation...
![Relief to Fenner India: Royalty Income not relatable to Export Business excludable from Business Profit u/s 80HHC, rules Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Export-Business-Madras-HC-Royalty-Income-Business-Profits-Deduction-Taxscan.jpeg "Relief to Fenner India: Royalty Income not relatable to Export Business excludable from Business Profit u/s 80HHC, rules Madras HC [Read Order]")
Section 80A(5) cannot be invoked for denying Deduction u/s 80P even if ITR is not filed: ITAT [Read Order]
The Section 80A (5) cannot be invoked for denying deduction under Section 80P even if Income Tax Return was not filed, so was held by the Income Tax Appellate Tribunal (ITAT), Bangalore. The...
![Section 80A(5) cannot be invoked for denying Deduction u/s 80P even if ITR is not filed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/deduction-ITR-ITAT-taxscan.jpeg "Section 80A(5) cannot be invoked for denying Deduction u/s 80P even if ITR is not filed: ITAT [Read Order]")
No Deduction of Actual Expenditure incurred on House Property besides 30% Statutory Deduction on Income from House Property: ITAT [Read Order]
The Chennai bench of Income Tax Appellate Tribunal ( ITAT ) has held that no deduction of actual expenditure incurred on house property besides 30% statutory deduction on Income from House Property. ...
![No Deduction of Actual Expenditure incurred on House Property besides 30% Statutory Deduction on Income from House Property: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Deduction-Income-from-House-Property-ITAT-taxscan.jpg "No Deduction of Actual Expenditure incurred on House Property besides 30% Statutory Deduction on Income from House Property: ITAT [Read Order]")