![Grant-in-Aids are ‘Capital Receipts’: ITAT Kolkata allows Deduction on interest paid for delayed deposit of PF [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "Grant-in-Aids are ‘Capital Receipts’: ITAT Kolkata allows Deduction on interest paid for delayed deposit of PF [Read Order]")
Grant-in-Aids are ‘Capital Receipts’: ITAT Kolkata allows Deduction on interest paid for delayed deposit of PF [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal, in a recent ruling held that “grant-in Aids” received by the State Fisheries Development...
![Expenditure in respect of issue of Additional Share Capital is Capital in nature, Bombay HC disallows expenditure [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-Tax-Scan.jpg "Expenditure in respect of issue of Additional Share Capital is Capital in nature, Bombay HC disallows expenditure [Read Judgment]")
A Co-operative Bank is not entitled to Deduction If none of its branches can be classified as a ‘Rural Branch’: ITAT Kochi [Read Order]
The Kochi division of the Income Tax Appellate Tribunal, in A recent decision held that a co-operative rural bank is not entitled to get deduction under section 36(1)(viia) of the Income Tax Act, 1961...
Entire expenses incurred on Non-convertible debentures are allowable as Deduction even If they are redeemable after 5 Years: ITAT Ahmedabad [Read Order]
The Ahmedabad division of Income Tax Appellate Tribunal recently allowed the entire amount of expenses in respect of Non-convertible debentures in the year in which they were incurred by the assessee....
![Entire expenses incurred on Non-convertible debentures are allowable as Deduction even If they are redeemable after 5 Years: ITAT Ahmedabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Non-Convertible-debuntures-Tax-Scan.jpg "Entire expenses incurred on Non-convertible debentures are allowable as Deduction even If they are redeemable after 5 Years: ITAT Ahmedabad [Read Order]")
Firm of Advocates & Solicitors exporting Legal Services based on Legal data base is eligible for Deduction: ITAT Mumbai [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal, in a recent ruling held that a Firm of Advocates and Solicitors engaged in the business of exporting legal services to their foreign clients, based...
![Firm of Advocates & Solicitors exporting Legal Services based on Legal data base is eligible for Deduction: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Advocates-and-Solicitors-Taxscan.jpg "Firm of Advocates & Solicitors exporting Legal Services based on Legal data base is eligible for Deduction: ITAT Mumbai [Read Order]")
Foreign Exchange Loss is allowable as Deduction u/s 37 of the Income Tax Act: Bombay HC [Read Order]
The High Court of Bombay in a recent decision held that the foreign exchange loss is not a “notional” or “speculation” loss and is allowable as a deduction. According to the division bench, the same...
![Deduction allowable on expenses for ‘Software Upgradation’: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Software-Upgrade-Taxscan.jpg "Deduction allowable on expenses for ‘Software Upgradation’: ITAT Delhi [Read Order]")
Deduction benefit for Eligible Projects or Schemes u/s 35AC of the Income Tax Act available till 31st March
Section 35AC of the Income Tax Act 1961, inter alia provides for a deduction in computing the business income of an assessee, of the amount paid by him to a Public Sector company or a local authority...
![“An unrecovered debt from a Subsidiary Company is allowable as Deduction”: ITAT Amritsar [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/unrecovered-debt-deduction-Taxscan.jpg "“An unrecovered debt from a Subsidiary Company is allowable as Deduction”: ITAT Amritsar [Read Order]")