![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]")
Re-Assessment without any ‘Fresh Tangible Materials’ is Invalid: ITAT Kolkata [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal, recently in ACIT v. BNK E Solutions Pvt Ltd, ruled that re-assessment solely based on the...
![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]")
![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]")
Assessee cannot Claim Deduction of Refund of Sales Tax u/s 80HHC when such Income has No Direct Nexus with his Export Business: Madras HC [Read Judgment]
In K.H. Shoes Ltd v. ACIT, the division bench of the Madras High Court held that the Refund of Sales Tax received by the assessee is not deductible under section 80HHC of the Income Tax Act when such...
![Assessee cannot Claim Deduction of Refund of Sales Tax u/s 80HHC when such Income has No Direct Nexus with his Export Business: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/09/Madras-High-Court-Taxscan.jpg "Assessee cannot Claim Deduction of Refund of Sales Tax u/s 80HHC when such Income has No Direct Nexus with his Export Business: Madras HC [Read Judgment]")
Lease Compensation Charges are ‘Revenue Expenditure’, Allowable as Deduction u/s 36(1)(iii): Madras HC [Read Judgment]
The division bench of Madras High Court held that, Lease compensation charges should be treated as ‘revenue expenditure’ and hence allowable as deduction under section 36(1)(iii) of the Income Tax...
![Lease Compensation Charges are ‘Revenue Expenditure’, Allowable as Deduction u/s 36(1)(iii): Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Madras-High-Court-Tax-Scan-1.jpg "Lease Compensation Charges are ‘Revenue Expenditure’, Allowable as Deduction u/s 36(1)(iii): Madras HC [Read Judgment]")
Delhi HC upholds Constitutional Validity of Sections 80(5) and 10B (1) of the Income Tax Act [Read Judgment]
While dismissing the Writ Petition filed by M/S Nath Brothers Exim International Ltd, the division bench of Delhi High Court upheld the Constitutional Validity of Section 80 (5) and Section 10B (1) of...
![Delhi HC upholds Constitutional Validity of Sections 80(5) and 10B (1) of the Income Tax Act [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Delhi-High-Court-Tax-Scan-1.jpg "Delhi HC upholds Constitutional Validity of Sections 80(5) and 10B (1) of the Income Tax Act [Read Judgment]")
Deduction can be Allowed on Claim of Damages and Interests even if it is disputed in the Court of Law: Delhi HC [Read Judgment]
The division bench of Delhi High Court held that, Deduction can be allowed on Claim of damages and Interest thereon is disputed by the assesse in the Court of law. The Appellant National Agricultural...
![Deduction can be Allowed on Claim of Damages and Interests even if it is disputed in the Court of Law: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Deduction-Taxscan.jpg "Deduction can be Allowed on Claim of Damages and Interests even if it is disputed in the Court of Law: Delhi HC [Read Judgment]")
‘Secret Commission’ for Business Promotion are rightly Treated as ‘Bribe’, Deduction not Available: ITAT Bengaluru [Read Order]
In Rampur Arvind v. ACIT, the ITAT, Bengaluru bench held that secret commission/ incentives paid to executives of business houses by the assessee for the purpose of business promotion are rightly...
![‘Secret Commission’ for Business Promotion are rightly Treated as ‘Bribe’, Deduction not Available: ITAT Bengaluru [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Commission.jpg "‘Secret Commission’ for Business Promotion are rightly Treated as ‘Bribe’, Deduction not Available: ITAT Bengaluru [Read Order]")
Co-Operative Societies cannot Claim Deduction on Net Interest Income from FDRs with Nationalized Banks: ITAT Ahmedabad
In Shree Modhpatni Co-op Credit Society Ltd. v. DCIT, the ITAT, Ahmedabad held that only net interest income earned by the assessee from FDRs with nationalized banks should be excluded from the claim...
ITAT Mumbai takes a Liberal Approach, allows Deduction for Investment in NHAI/REC Bonds made within 6 months from the receipt of Sale Consideration
The division bench of the Mumbai Income Tax Appellate Tribunal (ITAT), in Lemes E. D’ Souza v. ITO, held that benefit of Investing in NHAI/REC Bonds under section 54EC of the Income Tax cannot be...
