![Penalty u/s 271C for Non Deduction of TDS Not Leviable on Submission of Form 15G and 15H: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Penalty-Non-Deduction-of-TDS-Leviable-on-Submission-of-Form-15G-15H-ITAT-TAXSCAN.jpg "Penalty u/s 271C for Non Deduction of TDS Not Leviable on Submission of Form 15G and 15H: ITAT [Read Order]")
Penalty u/s 271C for Non Deduction of TDS Not Leviable on Submission of Form 15G and 15H: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the assessee was not required to deduct tax at source under Section...
![Deduction on Employees PF Contribution can be Claim Even if Payment was made After Due Date as per S. 36(1)(va) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Deduction-on-Employees-PF-Contribution-Payment-Due-Date-Deduction-Income-Tax-Act-ITAT-taxscan.jpg "Deduction on Employees PF Contribution can be Claim Even if Payment was made After Due Date as per S. 36(1)(va) of Income Tax Act: ITAT [Read Order]")
![ITAT directs Re-adjudication in regarding of Disallowance of Deduction of Discount on issue of Shares under ESOP [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Readjudication-ITAT-directs-Readjudication-Disallowance-of-Deduction-Disallowance-Deduction-issue-of-Shares-ESOP-taxscan.jpg "ITAT directs Re-adjudication in regarding of Disallowance of Deduction of Discount on issue of Shares under ESOP [Read Order]")
![Repair and Maintenance Expenses are Revenue in Nature: ITAT Allows Deduction u/s 37(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Repair-Maintenance-Expenses-Revenue-Nature-ITAT-Deduction-taxscan.jpeg "Repair and Maintenance Expenses are Revenue in Nature: ITAT Allows Deduction u/s 37(1) [Read Order]")
![CBDT Notifies Amendment on Section 80LA of Income Tax Act, 1961 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/08/CBDT-Amendment-Income-Tax-Act-taxscan.jpg "CBDT Notifies Amendment on Section 80LA of Income Tax Act, 1961 [Read Notification]")
Section 80HHC of Income Tax Act not requires Exports Profits as Sole Source of Income: ITAT allows Deduction [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that businesses can avail of benefits under Section 80HHC of Income Tax Act, 1961 even if export profits are not their exclusive...
![Section 80HHC of Income Tax Act not requires Exports Profits as Sole Source of Income: ITAT allows Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-Tax-Act-Exports-Profits-as-Sole-Source-of-Income-ITAT-allows-Deduction-ITAT-Deduction-Exports-Profits-taxscan.jpg "Section 80HHC of Income Tax Act not requires Exports Profits as Sole Source of Income: ITAT allows Deduction [Read Order]")
Deduction u/s 54 of Income Tax Act not allowable as Capital Gain as is not Taxable in Current Assessment Year: ITAT directs to examine Previous A.Y [Read Order]
The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench while directing to examine previous year assessment regarding capital gain exemption held that deduction under Section 54 of Income Tax Act,...
![Deduction u/s 54 of Income Tax Act not allowable as Capital Gain as is not Taxable in Current Assessment Year: ITAT directs to examine Previous A.Y [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Deduction-Income-Tax-Act-Capital-Gain-Taxable-Current-Assessment-ITAT-taxscan.jpg "Deduction u/s 54 of Income Tax Act not allowable as Capital Gain as is not Taxable in Current Assessment Year: ITAT directs to examine Previous A.Y [Read Order]")
Interest on Compulsorily Convertible Debentures Allowable as Revenue Deduction u/s 36(1)(iii) of the Income Tax Act: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that Compulsorily Convertible Debentures (CCDs) are in the nature of borrowed fund and continue to be in debt till conversion thereof...
![Interest on Compulsorily Convertible Debentures Allowable as Revenue Deduction u/s 36(1)(iii) of the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Interest-Earned-Surplus-Grants-Should-Not-Be-Taxed-as-Income-ITAT-Interest-Surplus-taxscan.jpg "Interest on Compulsorily Convertible Debentures Allowable as Revenue Deduction u/s 36(1)(iii) of the Income Tax Act: ITAT [Read Order]")
Original Return of Income filed before time prescribed u/s 139(1) of Income Tax Act: ITAT allows Claim of Deduction u/s.80JJAA of Act [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai Bench while allowing the claim of deduction under Section 80JJAA of Income Tax Act, 1961 held that original return of income was filed by the assessee...
![Original Return of Income filed before time prescribed u/s 139(1) of Income Tax Act: ITAT allows Claim of Deduction u/s.80JJAA of Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Original-Return-Income-filed-time-prescribed-Income-Tax-Act-ITAT-claim-deduction-TAXSCAN.jpg "Original Return of Income filed before time prescribed u/s 139(1) of Income Tax Act: ITAT allows Claim of Deduction u/s.80JJAA of Act [Read Order]")
CPC not within Jurisdiction to Disallow Deduction u/s 80P of Income Tax Act: ITAT Allows West Bengal Cooperative Society's Claim [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the Central Processing Centre (CPC) was not within its jurisdiction to disallow a deduction claimed by a West Bengal...
![CPC not within Jurisdiction to Disallow Deduction u/s 80P of Income Tax Act: ITAT Allows West Bengal Cooperative Societys Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/CPC-CPC-not-within-Jurisdiction-Jurisdiction-Disallow-Deduction-Income-Tax-Act-Income-Tax-ITAT-taxscan.jpg "CPC not within Jurisdiction to Disallow Deduction u/s 80P of Income Tax Act: ITAT Allows West Bengal Cooperative Societys Claim [Read Order]")
Bad Debts declared as NPS before 01.04.2006 are allowable as deduction u/s 36(l)(vii) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai Bench held that bad debts declared as Non-Performing Assets (NPS) before 01.04.2006 are allowed as deduction under Section 36(l)(vii) of Income Tax...
![Bad Debts declared as NPS before 01.04.2006 are allowable as deduction u/s 36(l)(vii) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Bad-Debts-NPS-allowable-deduction-Income-Tax-Act-taxscan.jpg "Bad Debts declared as NPS before 01.04.2006 are allowable as deduction u/s 36(l)(vii) of Income Tax Act: ITAT [Read Order]")
![No Disallowance u/s. 40(a)(ia) of Income Tax Act can be Made for Short Deduction of Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Disallowance-No-Disallowance-ITAT-short-deduction-section-40aia-of-Income-Tax-Act-taxscan.jpg "No Disallowance u/s. 40(a)(ia) of Income Tax Act can be Made for Short Deduction of Tax: ITAT [Read Order]")