![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]")
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]
In a significant Supreme Court ruling, the bench of Justice B. V. Nagarathna and Justice Ujjal Bhuyan declared that the entry and variable annual...
![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]](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]](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]")
ITAT grants Deduction u/s 80IB(10) for Following Consideration Failure for Permissions and Timely Completion of Separate Housing Project [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal held that Assessee cannot be denied claim of exemption under Section 80IB(10) for he obtained each block and usage permission from local...
![ITAT grants Deduction u/s 80IB(10) for Following Consideration Failure for Permissions and Timely Completion of Separate Housing Project [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-grants-Deduction-Completion-Separate-Housing-Project-Housing-Project-taxscan.jpg "ITAT grants Deduction u/s 80IB(10) for Following Consideration Failure for Permissions and Timely Completion of Separate Housing Project [Read Order]")
Corpus Contribution to Donee related to CSR Activities Eligible to Deduction u/s 80G of Income Tax Act: ITAT directs AO to Verify Genuineness of Facts [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed the (Assessing Officer) to verify the genuineness of facts holding that the corpus contribution to the donee related to Corporate...
![Corpus Contribution to Donee related to CSR Activities Eligible to Deduction u/s 80G of Income Tax Act: ITAT directs AO to Verify Genuineness of Facts [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/CSR-Activities-Corpus-Contribution-Deduction-Income-Tax-Act-AO-ITAT-taxscan.jpg "Corpus Contribution to Donee related to CSR Activities Eligible to Deduction u/s 80G of Income Tax Act: ITAT directs AO to Verify Genuineness of Facts [Read Order]")