![Assessee Co-Operative Society Governed by Due Date of Filing Return as per Maharashtra Co-Operative Society Act: ITAT allows Deduction u/s. 80P of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Assessee-Co-Operative-Society-ITAT-income-tax-act-Maharashtra-Co-Operative-Society-Act-taxscan.jpg "Assessee Co-Operative Society Governed by Due Date of Filing Return as per Maharashtra Co-Operative Society Act: ITAT allows Deduction u/s. 80P of Income Tax Act [Read Order]")
Assessee Co-Operative Society Governed by Due Date of Filing Return as per Maharashtra Co-Operative Society Act: ITAT allows Deduction u/s. 80P of Income Tax Act [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has allowed the deduction under Section 80P of the Income Tax Act ,1961 holding that the...
![Assessee cant claim Deduction for Cash Purchase of land When Amount exceeds permissible limit of ₹10000 u/s 40A(3) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Assessee-claim-Deduction-Cash-Purchase-land-Amount-Income-Tax-Act-ITAT-TAXSCAN.jpg "Assessee cant claim Deduction for Cash Purchase of land When Amount exceeds permissible limit of ₹10000 u/s 40A(3) of Income Tax Act: ITAT [Read Order]")
![SEZ Developer Not Entitled to Deduction on Sale of Food and Beverages u/s 80IAB of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/SEZ-Developer-Not-Entitled-to-Deduction-Sale-of-Food-and-Beverages-SEZ-Developer-Deduction-Income-Tax-Act-ITAT-taxscan.jpg "SEZ Developer Not Entitled to Deduction on Sale of Food and Beverages u/s 80IAB of Income Tax Act: ITAT [Read Order]")
![Addition Made by Tax Authorities Was Not Sustainable as Assessee Did Not Claim Job Charges: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Addition-Tax-Authorities-Assessee-Claim-Job-Charges-ITAT-TAXSCAN.jpg "Addition Made by Tax Authorities Was Not Sustainable as Assessee Did Not Claim Job Charges: ITAT [Read Order]")
![Claim of Compensation for Termination of Development Agreement Allowed as Deduction to One Co-Owner Cannot be Denied to Other Co-owner: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Claim-of-Compensation-for-Termination-of-Development-Agreement-Allowed-as-Deduction-to-One-Co-Owner-Denied-Co-owner-ITAT-TAXSCAN.jpg "Claim of Compensation for Termination of Development Agreement Allowed as Deduction to One Co-Owner Cannot be Denied to Other Co-owner: ITAT [Read Order]")
Income from Sale of land assessable under Capital Gains and not Business Income: ITAT allows Deduction u/s 54 of income Tax Act [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) set aside the order of Principal Commissioner of Income-Tax (PCIT) and allowed tax deduction under Section 54 of Income Tax Act for income...
![Income from Sale of land assessable under Capital Gains and not Business Income: ITAT allows Deduction u/s 54 of income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-sale-land-assessable-Capital-gains-business-Income-ITAT-deduction-income-Tax-Act-TAXSCAN.jpg "Income from Sale of land assessable under Capital Gains and not Business Income: ITAT allows Deduction u/s 54 of income Tax Act [Read Order]")
Compensation Paid for Non-Fulfilment of Contractual Obligation Deemed Non-Penal as No Infringement or Violation of Law Involved: ITAT upholds Deduction [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata has upheld the deduction for expenditure incurred by the appellant, for non-fulfilment of a contractual obligation, deeming it as non-penal and not...
![Compensation Paid for Non-Fulfilment of Contractual Obligation Deemed Non-Penal as No Infringement or Violation of Law Involved: ITAT upholds Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Non-Fulfilment-of-Contractual-Obligation-Compensation-Paid-Non-Fulfilment-Contractual-Obligation-Infringement-Violation-of-Law-ITAT-upholds-Deduction-ITAT-Deduction-taxscan.jpg "Compensation Paid for Non-Fulfilment of Contractual Obligation Deemed Non-Penal as No Infringement or Violation of Law Involved: ITAT upholds Deduction [Read Order]")
Income shall be determined on Net Profit even though Society is not Registered u/s 12A of Income Tax Act: ITAT allows Deduction of Expenditure [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) allowed deduction of expenditure and held that the income shall be determined on net profit even though the society is not registered...
![Income shall be determined on Net Profit even though Society is not Registered u/s 12A of Income Tax Act: ITAT allows Deduction of Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-shall-be-determined-on-Net-Profit-even-Society-Registered-Income-Tax-Act-ITAT-allows-Deduction-of-Expenditure-TAXSCAN.jpg "Income shall be determined on Net Profit even though Society is not Registered u/s 12A of Income Tax Act: ITAT allows Deduction of Expenditure [Read Order]")
Income Tax Deduction can't be Denied on ground of Return filed Belatedly u/s 139(4) of IT Act: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the Income Tax deduction cannot be denied on the ground of a return filed belatedly under Section 139(4) of the Income Tax Act,...
![Income Tax Deduction cant be Denied on ground of Return filed Belatedly u/s 139(4) of IT Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-Tax-Deduction-Income-Tax-Deduction-Return-filed-IT-Act-Income-Tax-Act-ITAT-Taxscan.jpg "Income Tax Deduction cant be Denied on ground of Return filed Belatedly u/s 139(4) of IT Act: ITAT [Read Order]")
Interest Income earned from Deposits made on other Cooperatives Banks are eligible for deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bangalore Bench held that Interest income earned from deposits made on other cooperative banks are eligible for deduction under section 80(2)(d) of Income Tax...
![Interest Income earned from Deposits made on other Cooperatives Banks are eligible for deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Interest-income-earned-Deposits-Cooperatives-Banks-eligible-deduction-TAXSCAN.jpeg "Interest Income earned from Deposits made on other Cooperatives Banks are eligible for deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]")
Calcutta HC upholds Deduction U/s 80IC of Income Tax Act for Substantial Expansion in Subsequent years unless initial year Relief Withdrawn [Read Order]
The High Court of Calcutta has held that the deduction under Section 80IC of the Income Tax Act, 1961 for substantial expansion cannot be rejected for subsequent assessment years unless the relief...
![Calcutta HC upholds Deduction U/s 80IC of Income Tax Act for Substantial Expansion in Subsequent years unless initial year Relief Withdrawn [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Calcutta-HC-Upholds-Deduction-Income-Tax-Act-Deduction-Calcutta-Highcourt-Income-Tax-Substantial-Expansion-in-Subsequent-Years-taxscan.jpg "Calcutta HC upholds Deduction U/s 80IC of Income Tax Act for Substantial Expansion in Subsequent years unless initial year Relief Withdrawn [Read Order]")
Delay in Payment of Employer's Contribution is not lost on basis of deferment of Deduction on Payment basis u/s.43B: ITAT dismisses plea regarding Delay of Payment during COVID [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal held that any failure to pay within the prescribed due date under the respective PF Act or Scheme will result in negating employer's claim for...
![Delay in Payment of Employers Contribution is not lost on basis of deferment of Deduction on Payment basis u/s.43B: ITAT dismisses plea regarding Delay of Payment during COVID [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Delay-payment-deferment-deduction-payment-ITAT-plea-delay-payment-COVID-TAXSCAN.jpg "Delay in Payment of Employers Contribution is not lost on basis of deferment of Deduction on Payment basis u/s.43B: ITAT dismisses plea regarding Delay of Payment during COVID [Read Order]")