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No Deduction on Interest Income received from Bank on FDRs Pledged as Security Deposit: ITAT [Read Order]

Taxscan Team

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) while dismissing the appeal preferred by the assessee ordered that the assessee shall...

Sec 80IA (4) Deduction allowable to Widening of Existing Roads by Construction of Additional Lanes...

Pension Received from Former Employer is Taxable under the head ‘Salaries’: CBDT

Expenses Incurred to keep the Status of Company Active is Eligible for Deduction: ITAT [Read Order]

Expenses Incurred for Earning Dividend Income including Finance Charges are allowable as Deduction:...

Loss of Consumable Stock can be held as Accidental to Business: ITAT Allows Deduction [Read Order]

The Ahmedabad bench of Income Tax Appellate Tribunal allows the deduction and held that the loss of consumable stock can be held as accidental to the business of allowability. In instant case,...

Discontinuance of Deduction for Eligible Projects: SC grants Exemption to Persons Donating Money for Construction of Specified Hospital [Read Order]

While hearing a special leave petition challenging the constitutional validity of Section 35AC(7) of the Income Tax Act, 1961, the Supreme Court held that persons who want to donate money for...

Private Company held by a Public Company can be treated as a ‘Public Company’ for the purpose of Deduction u/s 43B: ITAT [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) recently held that a private company held by a public company can be treated as a public company for the purpose of getting deduction under...

S. 80G Deduction is allowable in the Year of Actual Payment even without Donation Receipt: ITAT [Read Order]

In the case between General Capital and Holding Company Pvt. Ltd vs Income Tax Officer, Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) held that deduction under Section 80G of the Income Tax...

Deduction in respect of New Employee u/s 80JJAA Extended to Footwear and Leather Industries

In the Union Budget presented today in Parliament, the Union Minister for Finance and Corporate Affairs, Arun Jaitley has proposed to extend Deduction in respect of New Employee under Section 80-JJAA...

No Deduction to Evacuation of Land for Installation of Wind Turbine Generators: Kerala HC rejects Muthoot Finance Ltd’s Plea [Read Judgment]

A division bench of the Kerala High Court recently granted partial relief to Muthoot Finance Ltd and observed that evacuation of land for installation of Wind Turbine Generators does not amount to act...

Central Excise Duty paid in Cash Eligible for Tax Deduction: ITAT [Read Order]

The Hyderabad bench of the Income Tax Appellate Tribunal recently decided that the amount of duty paid as central excise whether in cash or cheque would be eligible for tax deduction under the Income...

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