![ITAT Rejects claim for Deduction since chances of recovery of Refundable Security Deposit are not lost completely as matter is Sub-judice [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "ITAT Rejects claim for Deduction since chances of recovery of Refundable Security Deposit are not lost completely as matter is Sub-judice [Read Order]")
ITAT Rejects claim for Deduction since chances of recovery of Refundable Security Deposit are not lost completely as matter is Sub-judice [Read Order]
A bench of Shri Sunil Kumar Yadav (judicial member) of ITAT rejected the claim for deduction under Section 36(2) of the Income Tax Act, 1961 since the...
![Payment made for Acquiring Mining Rights is Capital Expenditure, No Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Capital-Expenditure-Taxscan.jpg "Payment made for Acquiring Mining Rights is Capital Expenditure, No Deduction: ITAT [Read Order]")
![Booking of an Under-Construction Flat is a Case of Construction and not Purchase: ITAT Grants Capital Gain Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Under-Construction-Flats-Taxscan.jpg "Booking of an Under-Construction Flat is a Case of Construction and not Purchase: ITAT Grants Capital Gain Exemption [Read Order]")
![Assessee Registered under the STPI as a 100% EOU is entitled for Deduction u/s 10B: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Deduction-Section-10B-Taxscan.jpg "Assessee Registered under the STPI as a 100% EOU is entitled for Deduction u/s 10B: ITAT [Read Order]")
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,...
![ITAT Allows 80P Deduction to ‘Interest Income’ earned by SBI Officers Co-op. Credit Society Ltd on deposits placed with SBI [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/11/SBI.jpg "ITAT Allows 80P Deduction to ‘Interest Income’ earned by SBI Officers Co-op. Credit Society Ltd on deposits placed with SBI [Read Order]")
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...
![Assessee is Entitled to Claim Deductions of Expenses incurred in relation to Interest Income u/s 57(iii): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/Income-Tax-Deduction-Taxscan-1.jpg "Assessee is Entitled to Claim Deductions of Expenses incurred in relation to Interest Income u/s 57(iii): ITAT [Read Order]")
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,...
![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]](https://www.taxscan.in/wp-content/uploads/2017/12/Open-Terrace-Taxscan.jpg "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]")
Amusement Tax paid before the Due Date of Filing of Income Tax Return is Eligible for Deduction: ITAT [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal recently ruled that Amusement Tax paid before the due date of filing of Income Tax Return is eligible for deduction under the Income tax Act, 1961. ...
![Amusement Tax paid before the Due Date of Filing of Income Tax Return is Eligible for Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/08/GST-Returns-Taxscan.jpg "Amusement Tax paid before the Due Date of Filing of Income Tax Return is Eligible for Deduction: ITAT [Read Order]")
ITAT Allows 75% Deduction on Business Promotion Expenditure comprising Credit Card Payments and Club Expenses though there was No Evidence [Read Order]
Kolkata bench of Income Tax Appellate Tribunal recently allowed 75 percent deduction in respect of business promotion expenditure comprising credit card payments and club expenses since there was no...
![ITAT Allows 75% Deduction on Business Promotion Expenditure comprising Credit Card Payments and Club Expenses though there was No Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Deduction-Taxscan.jpg "ITAT Allows 75% Deduction on Business Promotion Expenditure comprising Credit Card Payments and Club Expenses though there was No Evidence [Read Order]")
Export Incentives are not Includable while Computing Eligible Profits for Deduction u/s. 80IC: ITAT [Read Order]
The Income Tax Appellate Tribunal Mumbai bench recently pronounced that Export incentives are not Includable while computing eligible profits for deduction under Section 80IC of the Income Tax Act,...
![Export Incentives are not Includable while Computing Eligible Profits for Deduction u/s. 80IC: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Export-Incentive-ITAT-Taxscan.jpg "Export Incentives are not Includable while Computing Eligible Profits for Deduction u/s. 80IC: ITAT [Read Order]")
Interest from Loan given to Sister Concern can’t be Set Off against Interest Paid to Bank: Kerala HC [Read Judgment]
High Court of Kerala recently declared that interest from loan given to sister concern cannot be set off against the interest paid by the assessee to his benkers for the purpose of eligible deduction...
![Interest from Loan given to Sister Concern can’t be Set Off against Interest Paid to Bank: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Kerala-High-Court-Tax-Scan.jpg "Interest from Loan given to Sister Concern can’t be Set Off against Interest Paid to Bank: Kerala HC [Read Judgment]")