![Supreme Court allows 80P Deduction Benefit under Income Tax Act to Kerala State Cooperative Agricultural and Rural Development Bank [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2023/10/Supreme-Court-Deduction-Benefit-under-Income-Tax-Act-Income-Tax-Deduction-Benefit-Deduction-Kerala-State-Cooperative-Agricultural-and-Rural-Devt-Bank-taxscan.jpg "Supreme Court allows 80P Deduction Benefit under Income Tax Act to Kerala State Cooperative Agricultural and Rural Development Bank [Read Judgement]")
Supreme Court allows 80P Deduction Benefit under Income Tax Act to Kerala State Cooperative Agricultural and Rural Development Bank [Read Judgement]
In a landmark ruling, the Supreme Court bench, composed of Justice B.V. Nagarathna and Justice Ujjal Bhuyan, has granted the Kerala State Cooperative...
![Payment of Interest u/s 234B not Necessary when Certain Income Qualified for Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Payment-of-Interest-Income-Qualified-for-Deduction-Interest-Payment-ITAT-taxscan.jpg "Payment of Interest u/s 234B not Necessary when Certain Income Qualified for Deduction: ITAT [Read Order]")
![Entry and Variable Annual Licence Fees Paid to Telecom Department is Capital in Nature, Amortisation Permitted u/s 35ABB of Income Tax Act: Supreme Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Entry-Variable-Annual-Licence-Fees-Paid-Telecom-Department-Capital-in-Nature-Amortisation-Permitted-Income-Tax-Act-Supreme-Court-TAXSCAN.jpg "Entry and Variable Annual Licence Fees Paid to Telecom Department is Capital in Nature, Amortisation Permitted u/s 35ABB of Income Tax Act: Supreme Court [Read Order]")
![Deduction u/s 80IB(10) of Income Tax Act Applies to Undertaking Developing and Building Housing Projects, not to Mere Partner in a Joint Partnership Firm: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Deduction-Income-Tax-Act-Income-Tax-Building-Housing-Projects-Partnership-Firm-Firm-ITAT-taxscan.jpg "Deduction u/s 80IB(10) of Income Tax Act Applies to Undertaking Developing and Building Housing Projects, not to Mere Partner in a Joint Partnership Firm: ITAT [Read Order]")
![ALP of ESOP Expenses cannot be taken as ‘Nil’ for determining Transfer pricing: ITAT grants relief to Booking.com [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ALP-of-ESOP-cannot-be-taken-determining-Transfer-pricing-ITAT-grants-Booking.com-TAXSCAN.jpg "ALP of ESOP Expenses cannot be taken as ‘Nil’ for determining Transfer pricing: ITAT grants relief to Booking.com [Read Order]")
Development of Commercial Project along with Residential Project: ITAT directs readjudication for claiming deduction u/s 80IB(10) Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT) Pune bench held that, while noting the development of commercial projects by assessee along with residential projects directed readjudication for claiming...
![Development of Commercial Project along with Residential Project: ITAT directs readjudication for claiming deduction u/s 80IB(10) Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Development-Development-of-Commercial-Project-Commercial-Project-ITAT-taxscan.jpg "Development of Commercial Project along with Residential Project: ITAT directs readjudication for claiming deduction u/s 80IB(10) Income Tax Act [Read Order]")
Failure to Substantiate Source of Claim of Investment for claiming S.54F Deduction: ITAT upholds Income Tax Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that appellant failed to substantiate source of claim of investment in the said property for the purpose of Section 54F of the Income Tax...
![Failure to Substantiate Source of Claim of Investment for claiming S.54F Deduction: ITAT upholds Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-to-Substantiate-Claim-of-Investment-Deduction-ITAT-upholds-Income-Tax-Addition-Income-Tax-Addition-ITAT-Investment-taxscan.jpg "Failure to Substantiate Source of Claim of Investment for claiming S.54F Deduction: ITAT upholds Income Tax Addition [Read Order]")
Loss arising from Cancellation of Forward Contracts is Arising in Normal Course of Business: ITAT Allows Deduction in Respect of net Foreign Exchange Losses to Mondelez India Foods
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has allowed deduction in respect of net exchange losses to the Mondelez India Foods as the loss arising from the cancellation of forward...
Non-Consideration of Evidence on Deduction Claim u/s 54B and Capital Gains Exemption on Sale of Agricultural Land: ITAT remands Matter to AO [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench remanded the matter before the Assessing officer for re adjudication due to nonconsideration of evidence on deduction claimed under...
![Non-Consideration of Evidence on Deduction Claim u/s 54B and Capital Gains Exemption on Sale of Agricultural Land: ITAT remands Matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Non-Consideration-Evidence-Deduction-Claim-Capital-Gains-Exemption-Sale-of-Agricultural-Land-ITAT-remands-Matter-AO-taxscan.jpg "Non-Consideration of Evidence on Deduction Claim u/s 54B and Capital Gains Exemption on Sale of Agricultural Land: ITAT remands Matter to AO [Read Order]")
Delayed Payment of TCS and GST is not "Penalty", Allowable as Deduction u/s 37 of Income Tax Act: ITAT [Read Order]
The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) held that delayed payment of Tax collection at source (TCS) and Goods and Services Tax (GST) is not a penalty and shall be allowable as a...
![Delayed Payment of TCS and GST is not Penalty, Allowable as Deduction u/s 37 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Delayed-Payment-TCS-GST-Penalty-Deduction-Income-Tax-Act-ITAT-taxscan.jpg "Delayed Payment of TCS and GST is not Penalty, Allowable as Deduction u/s 37 of Income Tax Act: ITAT [Read Order]")
Relief to Honda: ITAT allows Claim of Deduction of Expenses for Technical Know-How Services [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to allow assessee’s claim of deduction in respect of technical know-how payment on the basis of decision of...
![Relief to Honda: ITAT allows Claim of Deduction of Expenses for Technical Know-How Services [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Relief-Honda-ITAT-Claim-Deduction-Expenses-Technical-Know-How-Services-TAXSCAN.jpg "Relief to Honda: ITAT allows Claim of Deduction of Expenses for Technical Know-How Services [Read Order]")
Technical know-how fee received by Bajaj Auto ltd. fall under category of Royalty and is eligible for deduction u/s 80-O of Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the technical know-how fee received by Bajaj Auto Ltd. falls under the category of royalty and hence is eligible for deduction...
![Technical know-how fee received by Bajaj Auto ltd. fall under category of Royalty and is eligible for deduction u/s 80-O of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Technical-fee-Bajaj-Auto-ltd-Royalty-eligible-deduction-Income-Tax-Act-ITAT-TAXSCAN.jpg "Technical know-how fee received by Bajaj Auto ltd. fall under category of Royalty and is eligible for deduction u/s 80-O of Income Tax Act: ITAT [Read Order]")