![CENVAT Credit receivables which couldn’t be Set Off can be allowable as Income Tax Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Income-Tax-Deduction-CENVAT-Credit-Deduction-ITAT-Taxscan.jpeg "CENVAT Credit receivables which couldn’t be Set Off can be allowable as Income Tax Deduction: ITAT [Read Order]")
CENVAT Credit receivables which couldn’t be Set Off can be allowable as Income Tax Deduction: ITAT [Read Order]
The ITAT, Delhi bench has held that CENVAT credit receivables which could not be set off are allowable as deduction under the Income Tax Act, 1961. ...
![Amended Provisions relating to Income Tax Deduction towards Contribution towards ESI and PF not applicable to AY 2018-19: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Amended-Provisions-Deduction-Contribution-ESI-and-PF-AY-ITAT-Taxscan.jpeg "Amended Provisions relating to Income Tax Deduction towards Contribution towards ESI and PF not applicable to AY 2018-19: ITAT [Read Order]")
![Claim of Deduction of Contribution to ESI and Provident Fund cannot be denied to Assessee for Period prior to Finance Act Amendment in 2021: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Claim-of-Deduction-ESI-Provident-Fund-Finance-Act-Amendment-ITAT-Taxscan.jpg "Claim of Deduction of Contribution to ESI and Provident Fund cannot be denied to Assessee for Period prior to Finance Act Amendment in 2021: ITAT [Read Order]")
![Deduction allowable to Loss on Investment in Subsidiary made to Boost Sales: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Deduction-Loss-on-Investment-Boost-Sales-ITAT-taxscan.jpg "Deduction allowable to Loss on Investment in Subsidiary made to Boost Sales: ITAT [Read Order]")
![R&D Activity in Biotechnology Services would be treated as ‘Computer Software’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Computer-Software-ITAT.jpg "R&D Activity in Biotechnology Services would be treated as ‘Computer Software’: ITAT [Read Order]")
ITAT upholds Order denying Income Tax Deduction of sum paid to Real Estate Broker for want of Proof of Payment [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the Income Tax deduction cannot be allowed to the payment of brokerage at the time of purchasing the property on the ground that the...
![ITAT upholds Order denying Income Tax Deduction of sum paid to Real Estate Broker for want of Proof of Payment [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/11/Finance-Minister-Income-Tax-Relief-Developers-Home-Buyers-Boost-Real-Estate-Demand-Taxscan.jpeg "ITAT upholds Order denying Income Tax Deduction of sum paid to Real Estate Broker for want of Proof of Payment [Read Order]")
SC upholds Deduction of Gains derived by 100% Export-oriented undertaking as Assessee set up only an expansion of Old Unit and not a New Unit [Read Order]
The Supreme Court has upheld the deduction of gains derived by 100% export-oriented undertaking as assessee set up only an expansion of old units and not a new unit. In arriving at the conclusion...
![SC upholds Deduction of Gains derived by 100% Export-oriented undertaking as Assessee set up only an expansion of Old Unit and not a New Unit [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Supreme-Court-Taxscan.jpg "SC upholds Deduction of Gains derived by 100% Export-oriented undertaking as Assessee set up only an expansion of Old Unit and not a New Unit [Read Order]")
Form No. 56FF to be furnished along with Income Tax Return for claiming Section 10A(1B)(b) Deduction: CBDT [Read Notification]
The Central Board of Direct Taxes (CBDT) has notified Form No. 56FF to be furnished along with the Income Tax Return for claiming section 10A(1B)(b) deduction. The notification shall come into...
![Form No. 56FF to be furnished along with Income Tax Return for claiming Section 10A(1B)(b) Deduction: CBDT [Read Notification]](https://www.taxscan.in/wp-content/uploads/2021/12/Form-No.-56FF-Income-Tax-Return-Income-Tax-Deduction-CBDT-Section-10A1Bb-of-the-Income-Tax-Act-Taxscan.jpg "Form No. 56FF to be furnished along with Income Tax Return for claiming Section 10A(1B)(b) Deduction: CBDT [Read Notification]")
Karnataka HC allows Income Tax Deduction on Construction of Housing Project as size or number of Housing Projects undertaken on Minimum Area of one acre of land not significant [Read Order]
The Karnataka High Court allowed the deduction under Section 80IB (10) on construction of housing projects as the size or number of housing projects undertaken on a minimum area of one acre of land...
![Karnataka HC allows Income Tax Deduction on Construction of Housing Project as size or number of Housing Projects undertaken on Minimum Area of one acre of land not significant [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/12/Karnataka-High-Court-Income-Tax-Deduction-Construction-Of-Housing-Projects-Taxscan.jpg "Karnataka HC allows Income Tax Deduction on Construction of Housing Project as size or number of Housing Projects undertaken on Minimum Area of one acre of land not significant [Read Order]")
Assessee entitled for Income Tax Deduction where Separate Books of Account are maintained on Export: Madras HC [Read Judgment]
The Madras High Court ruled that the assessee is entitled for deduction under section 80HHC of the Income Tax Act where separate books of account are maintained with respect to export. The...
![Assessee entitled for Income Tax Deduction where Separate Books of Account are maintained on Export: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/08/deduction-books-of-account-export-Madras-High-Court-Taxscan.jpeg "Assessee entitled for Income Tax Deduction where Separate Books of Account are maintained on Export: Madras HC [Read Judgment]")
Wrong Claim for Income Tax Deduction can’t be a reason to invoke Penalty u/s 271(1)(c): ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the penalty under section 271(1)(c) of the Income Tax Act, 1961 cannot be imposed merely for the reason that the...
![Wrong Claim for Income Tax Deduction can’t be a reason to invoke Penalty u/s 271(1)(c): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/07/Wrong-Claim-for-Deduction-Penalty-ITAT-Taxscan.jpeg "Wrong Claim for Income Tax Deduction can’t be a reason to invoke Penalty u/s 271(1)(c): ITAT [Read Order]")