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Professional Fee paid for Valuation of Know-How is allowable as Deduction: ITAT [Read Order]

Taxscan Team

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the amount paid as professional fee for the purpose of valuation of...

Deduction can’t be denied on ground that Entire Agricultural Land not used for Cultivation: ITAT...

No Deduction in respect of Delayed Payment of EPF: Kerala HC disallows Harrisons Malayalam’s Plea...

80IA(4)(i) Deduction can’t be denied on Ground that assessee deducted TDS under Section 194C: ITAT...

Deduction for Leave Travel Concession not available to Bank Employees on Foreign Travels: ITAT [Read...

Professional Fee paid to Trustees who are Doctors allowable as Deduction: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the professional fee paid to the Trustees, who are qualified doctors are allowable as Deduction under the Income Tax Act, 1961. The...

ITAT disallows Fake Claim for Deduction as Rent paid to Mother was an afterthought [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has disallowed a fake claim for deduction because it was proved that the rent paid to mother was nothing, but an afterthought to claim...

Rent from Letting Out Industrial Undertaking not eligible for Deduction: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Cochin has held that the assessee by letting out the industrial undertaking is not having any direct connection with the manufacture or production of an...

ITAT confirms Additions against Magician Gopinath Muthukad [Read Order]

The Income Tax Appellate Tribunal (ITAT), Cochin bench, while allowing a departmental appeal against Magician Gopinath Muthukad, has held that the deduction under section 80 RR was allowable on the...

Wife added as Co-Owner of Property due to Vastu Reasons: ITAT asks AO to re-consider Deduction Claim [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore bench has asked the Assessing Officer to re-consider a claim for deduction under Section 54F of the Income Tax Act, 1961 where the anme of the wife...

Amendment to 80A (5) does not bar the Assessee from Revising the Computation for Deduction made under the provision: Delhi HC [Read Judgment]

The Delhi High Court by its single judge bench of Justice Sanjiv Khanna held that the amended 80A (5) cannot be read as a stipulation barring and restricting the assessee from revising the...

80% growth in Tax Base: Number of Returns Filed increased from 3.79 crore to 6.85 Crore

The Government has reduced tax rates, more for the common man and middle class, and made the interface with the tax department much simpler and largely faceless. Due to this, the tax collections...

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