![Undertakings Generating Steam Power, Cooling Power etc are Eligible for Deduction u/s 80 IA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "Undertakings Generating Steam Power, Cooling Power etc are Eligible for Deduction u/s 80 IA: ITAT [Read Order]")
Undertakings Generating Steam Power, Cooling Power etc are Eligible for Deduction u/s 80 IA: ITAT [Read Order]
Undertakings which are engaged in the activity of generation steam power from bio-gas, cooling power from cooling towers and cooling power from...
![Rectification is the Appropriate Remedy for Assessee when a Claim for Deduction was Omitted: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/01/Kerala-High-Court-Taxscan.jpg "Rectification is the Appropriate Remedy for Assessee when a Claim for Deduction was Omitted: Kerala HC [Read Judgment]")
![Service Charge Earned on Pattern Development is eligible profit for Deduction u/s 80IA of IT Act: ITAT Ahmedabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/10/Service-Charge-Taxscan.jpg "Service Charge Earned on Pattern Development is eligible profit for Deduction u/s 80IA of IT Act: ITAT Ahmedabad [Read Order]")
![Gujarat HC Upholds Vires of Provision Denying Deduction for Payments to Eligible Project or Scheme under Sec 35AC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/09/Donation-Taxscan.jpg "Gujarat HC Upholds Vires of Provision Denying Deduction for Payments to Eligible Project or Scheme under Sec 35AC [Read Judgment]")
Definition of ‘Speculative Transaction’ does not include Currency: ITAT allows Deduction on Cancellation of Forward Contracts
In M/s Essel Propack Ltd v. ACIT, a division bench of the Mumbai ITAT, while allowing the loss suffered on cancellation of forward contracts held that the same amounts to business loss. The bench...
Loss by Embezzlement being incidental to the Banking Business should be allowed as deduction in the year it is discovered: J & K HC
Justices Alok Aradhe and B. S Walia, in a significant ruling, held that under the provisions of the Income Tax Act, the loss by embezzlement, being incidental to the banking business should be allowed...
Deduction u/s 80IC cannot be denied merely on Ground of Non-Submission of Audit Report alongwith Return: ITAT Delhi [Read Order]
The Delhi Income Tax Appellate Tribunal (ITAT), on Monday ruled that submission of audit report for claiming deduction u/s 80IC of the Income Tax Act, 1961 is merely a matter of procedure and...
![Deduction u/s 80IC cannot be denied merely on Ground of Non-Submission of Audit Report alongwith Return: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Deduction-Taxscan.jpg "Deduction u/s 80IC cannot be denied merely on Ground of Non-Submission of Audit Report alongwith Return: ITAT Delhi [Read Order]")
Entire Expenditure on an Abandoned Project Development should be Allowed as Deduction: ITAT Kolkata [Read Order]
The ITAT Kolkata, in M/s Royal Calcutta Turf Club v. DCIT, allowed deduction on the entire expenditure on an abandoned project development treating the same as revenue in nature. The bench, while...
ITAT allows Deduction on Expenditure incurred on Foreign Tour of Director for Acquisition of Machinery [Read Order]
The Delhi Income Tax Appellate Tribunal (ITAT), in M/S Pile Foundation Co v. ITO, allowed the expenditure incurred by the Company on account of foreign tour of director for acquisition of machinery...
![ITAT allows Deduction on Expenditure incurred on Foreign Tour of Director for Acquisition of Machinery [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Travel-Abroad-Taxscan.jpg "ITAT allows Deduction on Expenditure incurred on Foreign Tour of Director for Acquisition of Machinery [Read Order]")
No TDS when Assessee waived Deduction on Expenditure & has made suo motu disallowance u/s 40(a)(ia): Mumbai ITAT [Read Order]
The Mumbai Income Tax Appellate Tribunal, in an appeal filed by M/s Destimoney Enterprises Limited, has held that the provisions relating to tax deduction at source is not applicable when the assesse...
![No TDS when Assessee waived Deduction on Expenditure & has made suo motu disallowance u/s 40(a)(ia): Mumbai ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/Tax-dedution-at-source-TDS-Tax-Scan.jpg "No TDS when Assessee waived Deduction on Expenditure & has made suo motu disallowance u/s 40(a)(ia): Mumbai ITAT [Read Order]")
![Manufacture of Encryption Software Eligible for Deduction u/s 80-1B: Himachal HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/08/Himachal-Pradesh-High-Court-Taxscan.jpg "Manufacture of Encryption Software Eligible for Deduction u/s 80-1B: Himachal HC [Read Judgment]")