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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...

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

No Deduction to Evacuation of Land for Installation of Wind Turbine Generators: Kerala HC rejects...

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

ITAT Rejects claim for Deduction since chances of recovery of Refundable Security Deposit are not...

Payment made for Acquiring Mining Rights is Capital Expenditure, No Deduction: ITAT [Read Order]

Bengaluru bench of Income Tax Appellate Tribunal (ITAT) in its recently order, proclaimed that the payment made for acquiring mining rights should be considered as capital expenditure and cannot be...

Booking of an Under-Construction Flat is a Case of Construction and not Purchase: ITAT Grants Capital Gain Exemption [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that booking of an under-construction flat is a case of construction and not a purchase. The bench comprising of Judicial Member...

Deduction u/s 80IC for units Set Up in specified areas in State of Himachal Pradesh cannot be Claimed for more than 5 years: ITAT [Read Order]

The Income Tax Appellate Tribunal, Chandigarh in its recent order ruled that deduction under Section 80IC of the Income Tax Act, 1961 for units set up in specified areas in the State of Himachal...

Assessee Registered under the STPI as a 100% EOU is entitled for Deduction u/s 10B: ITAT [Read Order]

While dismissing revenue’s appeal, the Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has declared that assessee is entitled for deduction under Section 10B of the Income Tax Act 1961 even...

ITAT Allows 80P Deduction to ‘Interest Income’ earned by SBI Officers Co-op. Credit Society Ltd on deposits placed with SBI [Read Order]

A division bench of the Hyderabad ITAT, while granting relief to M/s SBI Officers Coop. Credit Society Ltd, held that the society is eligible for deduction under Section 80P of the Income Tax Act,...

Assessee is Entitled to Claim Deductions of Expenses incurred in relation to Interest Income u/s 57(iii): ITAT [Read Order]

Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that an assessee is eligible to claim deductions of expenses incurred in relation to interest income under Section 57(iii) of the...

Private Open Terrace can’t be included in Built Up Area for the Purpose of Deduction if the Same was not approved by Local Authority: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Chennai, on Wednesday, brought in further clarity to one of its previous orders regarding the inclusiveness of private open terrace in build-up area of a flat,...

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