![Deduction u/s 43B is Allowable even in case of Delayed Payment of Employees Contribution under EPF Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Delhi-High-Court-Tax-Scan-1.jpg "Deduction u/s 43B is Allowable even in case of Delayed Payment of Employees Contribution under EPF Act: Delhi HC [Read Order]")
Deduction u/s 43B is Allowable even in case of Delayed Payment of Employees Contribution under EPF Act: Delhi HC [Read Order]
The division bench of the Delhi High Court, while granting relief to M/s MVS Engineering Ltd, held that the deduction under section 43B of the Income...
![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]](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]")
‘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...
Deduction u/s 37(1) cannot be Allowed in respect of Income Tax withheld Abroad: ITAT Ahmedabad [Read Order]
In DCIT v. Elitecore Technologies Private Limited, the Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that Deduction under section 37(1) of the Income Tax Act cannot be allowed in...
![Deduction u/s 37(1) cannot be Allowed in respect of Income Tax withheld Abroad: ITAT Ahmedabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Chandigarh-Taxscan.jpg "Deduction u/s 37(1) cannot be Allowed in respect of Income Tax withheld Abroad: ITAT Ahmedabad [Read Order]")
Companies cannot Claim Deduction on ‘Premium’ Collected on its Subscribed Share Capital: SC [Read Judgment]
A two-judge bench of the Supreme Court of India today ruled that "premium" collected by a Company on its subscribed share capital is not “capital employed in the business of the Company" within the...
![Companies cannot Claim Deduction on ‘Premium’ Collected on its Subscribed Share Capital: SC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan.jpg "Companies cannot Claim Deduction on ‘Premium’ Collected on its Subscribed Share Capital: SC [Read Judgment]")
Open Yard is ‘Infrastructure Facility’ u/s 80IA(4), Eligible for Deduction: ITAT Hyderabad [Read Order]
The division bench of the Hyderabad Income Tax Appellate Tribunal (ITAT) held that Open yard is “infrastructure facility” within the meaning of section 80IA(4) of the Income Tax Act and therefore, the...
![Open Yard is ‘Infrastructure Facility’ u/s 80IA(4), Eligible for Deduction: ITAT Hyderabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/03/Open-Yard-Deduction-Taxscan.jpg "Open Yard is ‘Infrastructure Facility’ u/s 80IA(4), Eligible for Deduction: ITAT Hyderabad [Read Order]")
Deduction cannot be denied for want of Approval from ‘Competent Authority’, when the Authority not processing the Application in Time: Punjab & Haryana HC
In a recent ruling, the Punjab and Haryana High Court held that denial of exemption to assessee for want of approval from competent authority, is not justified when the application for approval is not...