![Bottling of LPG amounts to ‘Production’: SC allows Deduction [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/08/Bottling-of-LPG-Taxscan.jpg "Bottling of LPG amounts to ‘Production’: SC allows Deduction [Read Judgment]")
Bottling of LPG amounts to ‘Production’: SC allows Deduction [Read Judgment]
In a significant ruling, the Supreme Court of India held that, Bottling of LPG is an activity which amounts to ‘production’ or ‘manufacturing’ for the...
![Financial Co. cannot claim Deduction in respect of Interest collected with EMI after the Sale of Portfolios to Another Co.: Gujarat HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/07/Deduction-Section-36.jpg "Financial Co. cannot claim Deduction in respect of Interest collected with EMI after the Sale of Portfolios to Another Co.: Gujarat HC [Read Judgment]")
![Appellate Authorities can allow Additional Claims made by Assessee during the Proceedings: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Madras-High-Court-Tax-Scan-1.jpg "Appellate Authorities can allow Additional Claims made by Assessee during the Proceedings: Madras HC [Read Judgment]")
Expenditure Incurred on Issuance of Debentures is Revenue Expenditure: ITAT Bangalore allows Deduction [Read Order]
In Shanders Properties Pvt. Ltd v. ITO, the ITAT Bangalore directed the AO to allow the expenditure incurred in relation to issuance of debentures as it constitute revenue expenditure under the...
![Expenditure Incurred on Issuance of Debentures is Revenue Expenditure: ITAT Bangalore allows Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/05/Debuntures.jpg "Expenditure Incurred on Issuance of Debentures is Revenue Expenditure: ITAT Bangalore allows Deduction [Read Order]")
Ex-Gratia Payments to Retiring Employees are ‘Profits in Lieu of Salary’: ITAT Pune allows Deduction [Read Order]
While allowing deduction under Section 37(1) of Income Tax Act to the assessee, Prathamik Shikshak Sahakari Bank Ltd, the Pune bench of the ITAT held that ex-gratia payment made to the retiring...
![Ex-Gratia Payments to Retiring Employees are ‘Profits in Lieu of Salary’: ITAT Pune allows Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/05/Cash-Payments.jpg "Ex-Gratia Payments to Retiring Employees are ‘Profits in Lieu of Salary’: ITAT Pune allows Deduction [Read Order]")
Deduction u/s. 54/54F is available for Purchase of Residential Property in USA prior to 2014 Amendment: ITAT Mumbai [Read Order]
In ITO v. Nishant Lalit Jadhav, the Mumbai Income Tax Appellate Tribunal (ITAT) held that the provisions of Section 54/54F of Income Tax Act prior to its amendment in 2014, w.e.f. 01/04/015, does not...
![Deduction u/s. 54/54F is available for Purchase of Residential Property in USA prior to 2014 Amendment: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/05/Deduction-Residential-Property.jpg "Deduction u/s. 54/54F is available for Purchase of Residential Property in USA prior to 2014 Amendment: ITAT Mumbai [Read Order]")
![Re-Assessment without any ‘Fresh Tangible Materials’ is Invalid: ITAT Kolkata [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/01/Re-Assessment-Taxscan.jpg "Re-Assessment without any ‘Fresh Tangible Materials’ is Invalid: ITAT Kolkata [Read Order]")
Deduction u/s 80HHDD(4) not available to Utilization of Reserved Amount for the Current Year: Rajasthan HC [Read Judgment]
The division bench of the Rajasthan High Court recently held that benefit of deduction under section 80HHDD(4) of the Income Tax Act is confined only to utilization of reserved amount for the previous...
![Deduction u/s 80HHDD(4) not available to Utilization of Reserved Amount for the Current Year: Rajasthan HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/01/RajasthanHighCourt-Taxscan.jpg "Deduction u/s 80HHDD(4) not available to Utilization of Reserved Amount for the Current Year: Rajasthan HC [Read Judgment]")
AO is bound to Grant Relief u/s 54F If Assessee Omitted to Claim it in the Returns and Produces details during Proceedings: ITAT Raipur
In Amit Kumar Banzal v. ITO, the ITAT Raipur held that the benefit of Section 54F of the Income Tax Act can be given to the assessee if he omitted to claim it in the returns and later, produces the...
Private Terrace attached with Flat is ‘Built-Up’ Area for the Purpose of Deduction u/s 80-IB(10): ITAT Chennai [Read Order]
In a significant ruling, the ITAT Chennai held that the private open terrace attached with residential unit would form part of built-up area for the purpose of computing deduction under section...
![Private Terrace attached with Flat is ‘Built-Up’ Area for the Purpose of Deduction u/s 80-IB(10): ITAT Chennai [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/05/Private-Terrace-attached-with-Flat.jpg "Private Terrace attached with Flat is ‘Built-Up’ Area for the Purpose of Deduction u/s 80-IB(10): ITAT Chennai [Read Order]")