![Deduction u/s 80HHD need not be reduced while Computing Deduction u/s 80HHC: ITAT Kolkata [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Deduction-Taxscan.jpg "Deduction u/s 80HHD need not be reduced while Computing Deduction u/s 80HHC: ITAT Kolkata [Read Order]")
Deduction u/s 80HHD need not be reduced while Computing Deduction u/s 80HHC: ITAT Kolkata [Read Order]
In the case of DCIT, Circle-10, Kolkata v. Vesuvious India Ltd, the division bench of the ITAT, Kolkata ruled that Vesuvious India Ltd there is no...
![Amount Paid under Compromise Decree is Deductible from Business Income: ITAT Pune [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/12/Amount-Paid-under-Compromise-Decree.jpg "Amount Paid under Compromise Decree is Deductible from Business Income: ITAT Pune [Read Order]")
![Showing Bad Debt as ‘Written Off’ in the Accounts is sufficient to Grant Deduction: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Chandigarh-Taxscan.jpg "Showing Bad Debt as ‘Written Off’ in the Accounts is sufficient to Grant Deduction: ITAT Delhi [Read Order]")
![Sec 10A of Income Tax Act is no longer an ‘Exemption Provision’, it is a provision for ‘Deduction’: SC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/07/Supreme-Court-of-India-Tax-Scan.jpg "Sec 10A of Income Tax Act is no longer an ‘Exemption Provision’, it is a provision for ‘Deduction’: SC [Read Judgment]")
Compensation paid to Buyers of Flats is Deductible as Business Expenditure of the Developer: ITAT Pune [Read Order]
In a recent decision, the Pune bench of the Income Tax Appellate Tribunal held that the compensation paid to the buyer for delayed possession of flat is business expense and therefore, it is...
![Compensation paid to Buyers of Flats is Deductible as Business Expenditure of the Developer: ITAT Pune [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/ITAT-Ahmedabad.jpg "Compensation paid to Buyers of Flats is Deductible as Business Expenditure of the Developer: ITAT Pune [Read Order]")
Transport, Power & Interest Subsidies received by the Industrial undertakings are Deductible u/ss 80-IB & 80IC of Income Tax Act: CBDT [Read Circular]
In a recent circular, the Central Board of Direct Taxes (CBDT) clarified that transport, power and Interest subsidies received by the Industrial Undertakings are deductible u/ss 80-IB & 80IC of...
Interest paid, but not Deducted during the previous year can Set-Off in the next year: Delhi HC [Read Judgment]
In a recent ruling, the Delhi High Court observed that the interest paid but not shown as deductible expenditure for the previous period should be permitted as prior period expenditure under the...
![Interest paid, but not Deducted during the previous year can Set-Off in the next year: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Delhi-High-Court-Tax-Scan.jpg "Interest paid, but not Deducted during the previous year can Set-Off in the next year: Delhi HC [Read Judgment]")
AO cannot reject Claim for Deduction in respect of Research & Development facility approved by Competent Authority: ITAT [Read Order]
In a recent case, the ITAT Vishakhapatanam bench ruled that the Assessing Authority cannot reject a claim for deduction in respect of the Research & Development facility which is already approved...
![AO cannot reject Claim for Deduction in respect of Research & Development facility approved by Competent Authority: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/Assessing-officer-Tax-Scan.jpg "AO cannot reject Claim for Deduction in respect of Research & Development facility approved by Competent Authority: ITAT [Read Order]")
A sub-contractor is not Entitled to Weighted Deduction provided u/s 35B of the Income Tax Act: Bombay HC [Read Judgment]
While upholding the decision of the Appellate Tribunal, the division bench of the Bombay High Court recently ruled that,a subcontractor, who did not provide any technical know how to a person outside...
![A sub-contractor is not Entitled to Weighted Deduction provided u/s 35B of the Income Tax Act: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-Tax-Scan.jpg "A sub-contractor is not Entitled to Weighted Deduction provided u/s 35B of the Income Tax Act: Bombay HC [Read Judgment]")
Deduction under Sec 80O of the Income Tax Act is allowable on the Net Basis, Not on Gross Receipts: Bombay HC [Read Judgment]
In a recent decision, the division bench of the Bombay High Court held that the deduction under section 80O of the Income Tax Act, 1961 is allowable on net income, not on gross receipts. The Court...
![Deduction under Sec 80O of the Income Tax Act is allowable on the Net Basis, Not on Gross Receipts: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-2-Tax-Scan.jpg "Deduction under Sec 80O of the Income Tax Act is allowable on the Net Basis, Not on Gross Receipts: Bombay HC [Read Judgment]")
Appellate Tribunal can direct the AO to accept a new Claim for Deduction: ITAT Kolkata [Read Order]
In a recent ruling, the Kolkata bench, ITAT held that being an appellate authority, the tribunal, has the power to direct the assessing officer to admit a new claim which was not made by the assessee,...